An ICG client is looking for a Subject Matter Expert with a track record in successfully providing financial advice from the pre-bid stage up to financial close to assist them to bid for and deliver services to a Joint Venture.
This JV are themselves bidding for a Design Build Finance Operate and Maintain (DBFOM) anaerobic digestion plant to deliver, operate and process wastewater sludge generated within the region at a site in the Northwest of England.
The initial task would be to assist the client to put together a compelling proposal to be awarded the services contract by the JV. This will include a demonstration of knowledge around the key risks and considerations around AD plants, including feedstock and gas-to-grid contracting arrangements. The client has a good relationship with members of the JV and is aware that they are likely to be competing for the work against just one or two other bidders. The submission deadline for the proposal is Thursday 14 April 2022.
· Further scope requirements with respect to financial modelling, and tax & accounting advice are also part of the services to be provided, and the client is comfortable with providing these scope items in-house.· The extent of support that the JV require is not entirely clear at this stage, and once an ICG consultant is appointed there will be an opportunity to have a detailed dialogue with the JV to fully understand their support requirement. Whilst this is not expected to be a full-time role there will be a significant time commitment requirement alongside a high-level of flexibility to ensure availability when needed.
Key DeliverablesTo support the bidder through each of the key stages up to financial close.
The following is a projected project timeline based on market engagement and is subject to confirmation from the procurer:
· Preliminary Qualification Questionnaire (PQQ) Phase – July to September 2022 – 3 months in duration;
· Invitation To Negotiate (ITN) Phase – October 2022 to May 2023 – 8 months in duration;
· Best And Final Offer (BAFO) Phase – June to August 2023 – 3 months in duration; and
· Contractual completion and financial close Phase – September to December 2023;
Pre-Bid Support– Financial support in advance of the procurement. To include risk assessments, bid scenario planning and revenues ‘off-take’ arrangements.
Tender Responses – Financial Questions
– Support the JV’s bid team in providing written responses to all relevant financial questions.
– Participating in procurement meetings and workshops where financial support is required.
– Support the JV’s bid team in providing written responses to procurer clarification questions and requests for information.
External Funder Support
– Support the JV’s bid team in the development of a Preliminary Information Memorandum or equivalent to secure finance.
– Support the JV’s bid team in reviewing funder term sheets and offers of finance.
– Liaise with external funders and their advisers as necessary.
– Attend financial close.
Contract Development (Financial Support)
· Support the JV bid team in the development of the payment mechanism.
· Support the provision of relevant financial information to relevant parts of the contract documentation.
· Support the provision of information from the Financial Model to complete the Gaps List.
Other Advice as Required and Meetings
· Additional risk assessment work and bid/tender scenarios – using the financial model.
· Provide ad hoc financial information to the JV investors on a ‘time to time’ basis.
· Attend internal meetings as required.
· Attend external meetings as required.
· A track-record in the anaerobic digestion / energy from waste sector is essential
· We would expect candidates to have several years of experience in the waste sector as well as a demonstrable track record of providing financial advice to projects up to and including financial close
· A good knowledge of project and financing documents and negotiating experience will be required
· It is expected that a project finance debt facility will be in place at financial close so a track record in project financing is also required