Job no: 498628
Work type: Contract
Categories: Geoservices, Economic Growth, Energy
TetraTech International Development (formerly WYG International) is delivering the FCDO-funded United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF), a £72.8m technical assistance facility which aims to improve the lives of some of Nigeria’s poorest people by improving the way infrastructure is designed and delivered in the country.
Working with the Federal Government of Nigeria, and selected state governments and the wider international community, it aims to catalyse a transformational change in livelihoods across Nigeria by unblocking obstacles to growth.
The position is based in Abuja. But as a result of COVID19 restrictions, most UKNIAF roles are being delivered remotely.
This assignment builds on existing studies on what it would take to realise the FGNs ambition to scale up the Solar Home Systems (SHS) market in Nigeria to reach the Economic Sustainability Plan target of 5 million new connections by 2023. In particular, the Task Order team will adopt a market systems approach to addressing the barriers and market failures that will support the development of a viable and sustainable market for SHS in Nigeria.
Specifically, the TO team will:
- Review the existing economics of the SHS market in Nigeria – including available funding and financing arrangements for new and existing market players, as well as the credit worthiness of off-takers, and other critical challenges to scale.
- Explore and carry out a market analysis on potential financial models for a range of market sector players, incorporating the use of blended financing as required to ensure universal access for households, particularly in unserved and under-served communities.
- Produce and present financial models for scaling up the operations of new and existing market players.
- Establish a list of potential private sector participants and their terms for providing financing in support of Nigeria’s fledgling SHS market.
This is a fixed term role, as part of the overall UKNIAF Infrastructure Finance Component team.
Specifically, you will:
- Develop a theory of change for making markets work to scale up solar home systems towards the target of 5 million connections by 2023.
- Collate input costs and assumptions for scaling an SHS assembly and distribution.
- Produce models for both on balance sheet and off balance sheet and potentially a blended finance fund. This can be structured by talking to financiers including Nigerian impact funds/domestic funds
- Estimate impact of technology change on future cost and affordability till 2023.
- Develop sample financial models for an SHS company including aggressive scaling assumptions from current growth rates e.g. 3000 systems per year to 30,000 systems per year.
- Develop sample financial model for new SHS assembly, inventory and repair plant in 6 geo-political zones.
- Identify challenges and potential market enhancing solutions to challenges to scaling SHS deployment along the supply chain including financing (including working capital), just in time supply chain/ inventory operations, credit and market risk de-risking instruments, and market demand stimulation.
- Workshop financial model assumptions and outputs with SHS companies and financiers (banks and supporting DFIs, BOI, CBN).
- Identify social costs/ externalities at each stage of the value chain that can be passed on to government or DFIs.
- Identify capacity building imperatives for blitz-scaling SHS companies including finance, operations and human capital.
- Develop roadmap for implementation of proposals.
The ideal profile will include the following:
- Experience with blended finance models with DFIs, impact investors and guarantees, risk and credit ratings.
- Understanding of hire purchase models and asset backed financing including receivables and security over receivables.
- Bachelor’s degree or equivalent in Business Administration, Finance, Economics, Engineering or related fields with CFA type financial modelling experience and also understanding of account receivables and product finance (not project finance) as well as blended structures
- Experience in deal structuring (debt/equity), blended finance, project finance in Investment Banks, IFIs & DFIs may be considered an added advantage.
- Master’s degree in a relevant specialism, an advantage.
- Minimum of 10 years relevant professional work experience (at least 7 years at senior level) in Infrastructure Finance and/or Corporate or Project finance gained at a Consulting firm, Project developer, Commercial/ Investment bank and/or other financial institution.
- Demonstrable experience and knowledge of the economics of Renewable Energy market systems in developing countries (Nigeria experience an added advantage), available financing options, issues and potential solutions for existing and new market players.
- Experience supporting the successful delivery of interventions and/or programs in the off-grid sector. Experience of SHS interventions, a particular advantage.
- Experience advising government and building capacity across the off-grid sector. Familiarity with the REA an advantage.
- Demonstrable knowledge and experience of Solar Home Systems an advantage.
- Knowledge and experience gained from successfully undertaking similar assignments internationally, an advantage.
- Experience of supporting the successful delivery and/or contract management of privately financed infrastructure projects that have reached commercial and/or financial close across multiple sectors.
- Experience in establishing and maintaining productive relationships with banks and other financial institutions, fund managers, institutional investors, and other sponsors and financiers.
- Knowledge of FCDO rules and procedures for programme management is preferred.
- Strong leadership, interpersonal and organizational abilities, as well as excellent written and oral communication skills.
- Strong demonstrable proficiency with Microsoft Office (Excel, Word, Power Point). Financial modelling skills in excel is essential.
- Demonstrated ability to work effectively independently and constructively with diverse, inter-cultural, and high impact teams in different locations.
- Commitment to contributing to the development of a healthy, collaborative, learning, productive and supportive working environment and to the highest levels of integrity and excellence.
Applications close: Friday 27th November 2020, 9pm UK time
Tetra Tech International Development has a 40-year history in successfully delivering international development projects on behalf of donors around the world, including the UK’s Department for International Development (DFID), Foreign Commonwealth Office (FCO), and the European Union (EU). Our people are focused on improving lives by working side by side with local partners to support stability, economic growth, and good governance. Tetra Tech International Development is part of Tetra Tech, a global family of experts providing international development services in over 13 key practice areas in over 100 countries around the world. Tetra Tech serves the major aid markets in the UK and Europe, as well as the U.S. Agency for International Development, the U.S. Department of State, Australia’s Department of Foreign Affairs and Trade, and multilateral development banks.
Tetra Tech International Development has robust policies and guidelines which exemplify our commitment to safeguarding and technical excellence in gender equality. Our team of dedicated GEDSI advisers work closely with our staff and partners to ensure a context-specific and consistent approach is applied to all of our programmes to improve the livelihoods of the world’s most marginalised groups.
Advertised: W. Central Africa Standard Time
Applications close: W. Central Africa Standard Time
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