Consultancy services for financial advisor for Namibia National Electrification Fund

REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTANCY SERVICES – FIRMS SELECTION)

Shortlisting of Consultants

Issued on: 7 November 2025

for

Request for Expression of Interest for the Consultancy Services for Financial Advisor for Namibia National Electrification Fund

(Open International)

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Procurement Reference No: SC/EOI/EIF-03/2025

Environmental Investment Fund of Namibia

8933 Heinitzburg Heights

c/o Heinitzburg & Dr. Theo – Ben Gurirab Streets

Klein Windhoek,

Windhoek, Namibia

Tel: +264-61-431 7733

E-mail: [email protected]

TABLE OF CONTENTS

SECTION 1: LETTER OF INVITATION.. 3

• INTRODUCTION 3

• BACKGROUND.. 3

• SCOPE OF SERVICES.. 3

• INVITATION 6

• ELIGIBILITY OF CONSULTANT.. 6

• CONFLICT OF INTEREST.. 6

• QUALIFICATIONS.. 6

• APPROACH TO MARKET AND SELECTION METHOD 7

• CORRESPONDENCE.. 8

• SUBMISSION OF EXPRESSION OF INTEREST.. 8

• HARD COPY 8

• ELECTRONIC FORMAT.. 9

SECTION 2: SUBMISSION FORMS.. 10

AF1 – DECLARATION AND UNDERTAKING.. 11

AF2 – GENERAL INFORMATION.. 13

AF3 – EXPERIENCE RECORD.. 14

DETAILS OF PROJECTS/CONTRACTS OF SIMILAR NATURE AND COMPLEXITY.. 15

SECTION 1: LETTER OF INVITATION

Country: Namibia

Name of Project: ASCENT Namibia Preparation - P181995

Procurement Name: Financial Advisor for Namibia National Electrification Fund

Procurement Reference No: SC/EOI/EIF- 03/2025

Dear Prospective Consultant

REQUEST FOR EXPRESSION OF INTEREST FOR THE CONSULTANCY SERVICES FOR FINANCIAL ADVISOR FOR NAMIBIA NATIONAL ELECTRIFICATION FUND (OPEN INTERNATIONAL)

• INTRODUCTION

The Environmental Investment Fund of Namibia (hereinafter referred to as EIF) is inviting Expressions of Interest (EOI) from qualified and experienced consultancy firms to provide Financial Advisor for Namibia National Electrification Fund. The EOI will lead to a Request for Proposal (RFP) for the scope of services detailed in Section 3 which will be shared with the shortlisted consultant.

• BACKGROUND

The Government of Namibia (GRN) through the Environmental Investment Fund (EIF) secured a project preparation grant from the World Bank to fund a financial advisory firm or relevant consortia (the Consultant) to advise on the setting up of the National Electrification Fund.

The grant-funded activity will also inform the preparation of the World Bank Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Namibia operation to support the electrification targets of the country.

• SCOPE OF SERVICES

The scope of work under this assignment will include the following main sub-tasks:

• Inception Report

The Consultant will develop an inception report presenting (i) the assignment detailed methodology, (ii) the list of data and documentation required for the completion of the outputs, and (iii) a timeline of the expected completion of all tasks, all meetings and workshops required, as well as the approach to work with MIME (and any other relevant stakeholders) in validating scenarios, data and results.

• Task 1: Review of the legal, institutional and regulatory framework related to the electrification sector and establishment of the fund

The firm will provide support to GRN in identifying, evaluating, conducting a gap analysis and mapping out the legal, regulatory, institutional and financing frameworks necessary to ensure the successful establishment of the National Electrification Fund. The firm will provide legal insights through the preparation of a comprehensive report on the electrification sector and realistic financing structures for the National Electrification Fund. The document will encompass several key components: (i) summary of the electrification sector, offering an analysis of the financial and technical performance of the distributors of electricity; (ii) assessment of the existing tariff systems in each region and conceptualization of financing through sustainable debt instruments that rely on consumer receivables to the extent possible; (iii) summary of the legal and institutional framework necessary for the establishment of the National Electrification Fund (that encompass electricity access and clean cooking funds); and (iv) development of a Fund Manager selection and scoring matrix. The hiring of the Fund Manager is expected by the completion of Task 1. All subsequent Tasks are expected to be completed in conjunction with the Fund Manager. The firm will conduct necessary stakeholder consultations to receive feedback.

• Task 2: Construction of the preliminary fund portfolio model with the independent structures for grid and off grid/clean cooking financing

The firm will develop and apply a Fund Investment Model to create portfolio scenarios, which will incorporate electrification scenarios, and leverage the geospatial least cost electrification plan, tariff scenarios, off-grid and clean cooking sector analysis, evaluation of O&M costs including a thorough analysis of the operation and maintenance costs associated with extending the grid network via the REDs, and will consider financing options. Through this model, the firm will identify the funding gap for each electrification scenario and assess financing mechanisms that rely on blended capital from the public and private sectors, including contributions from DFIs.

• Task 3: Design off-grid and clean cooking co-financing and incentive programs for private sector participation (Optional to be confirmed by the client)

The construction of the off-grid and clean cooking portfolio will be supported by a separate detailed model that focuses on off-grid and clean cooking expansion, considering market sentiment in the region. The firm will assess the existing off-grid solar and clean cooking markets by engaging with the independent operators. In parallel the firm will assess financial sector incentives for the local off-grid solar and clean cooking market (i.e. green microfinance, solar funds etc.) to design realistic off-grid co-financing and incentive programs that encourage private sector participation. The firm will prepare a Report that will provide a detailed summary of the off-grid co-financing and incentive programs as well as procurement approach, while the underlying model will generate various scenarios that will be incorporated into the overall fund portfolio. The financing scenarios will feed into the fund investment model, ensuring effective budgeting and maximizing the impact of the off-grid co-financing and incentive programs.

• Task 4: Development of capital mobilization strategy and construction of the fund cash waterfall based on the investor risk appetite and various sector scenarios

The firm will structure the fund and provide fund cash waterfall based on the ongoing fundraising efforts for the National Electrification Fund. The sources of capital will include GRN electrification budget, concessional finance, and potentially institutional investor capital among others. The fund cash waterfall will be based on the seniority of the tranches and will incorporate investment return and risk profiles in line with the fundraising efforts. The fund cash waterfall will be based on the fund investment model scenarios and essentially be delivered by the firm in the form of a consolidated model. The firm will develop a fund management strategy that includes a detailed plan to diversify and maximize funding sources. This will involve analyzing a pool of potential sourcing partners and providing recommendations on how the fund can leverage donor, investor, and facility offerings – including technical assistance and capacity building – for its own program. Task 4 will also involve developing a Facility Capitalization Process that can be utilized to approach and secure financing.

• Task 5: Support operationalization of the National Electrification Fund by MIME including Stakeholder Consultations.

The firm will, in collaboration with the Fund Manager, develop an implementation plan for the fund in the following areas: (i) budgeting, (ii) portfolio management, (iii) procurement, (iv) disbursements, (v) monitoring and evaluation of projects, (vi) credit management and administration, and (vii) governance, which will include assessing the governance structure, policies, stakeholder involvement, accountability mechanisms, and risk management strategies to ensure effective institutional arrangements. The implementation plan will also include the proposed structure for the Project Implementation Unit under the MIME that will monitor the establishment of the New Electrification Fund. The Consultant will deliver capacity building needed to deliver on the key objectives described above including a detailed and scheduled handover of all developed models and all key documents prepared under Task 1 - 5 (to be defined at inception report). The Consultant, in collaboration with the working group, will facilitate a program of stakeholder consultations involving all relevant government agencies to gather insights and feedback on the outputs of Tasks 1-5, ensuring a high level of buy-in for the final model and prepared documents.

See attached detailed Terms of Reference (ToR).

• INVITATION

EIF hereby invites eligible consulting firms (“Consultants”) to submit Expressions of Interest (EOI) for the provision of the above-mentioned Services. Interested, and registered Consultancy Firms should provide information demonstrating that they have the required technical capabilities, managerial capabilities, qualifications and relevant experience to perform the Services to be shortlisted for further engagement on the Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Project. The information requested in the EOI shall be a pre-requisite to assess the firm’s capability to provide the services required and will be the basis for short-listing of the Consultant for an eventual invitation to submit proposal.

The attenti