International Corporate Finance Expert for ESCO Moldova


Location : Chisinau, MOLDOVA
Application Deadline :28-May-13 (Midnight New York, USA)
Type of Contract :Individual Contract
Post Level :International Consultant
Languages Required :
English  
Starting Date :
(date when the selected candidate is expected to start)
10-Jun-2013
Expected Duration of Assignment :35 days

Background

In accordance with UNDP and GEF procedures, a team of four consultants is being hired to develop the ESCO Moldova full project. The project is intended to support the development of the first commercial ESCO (Energy Service Company) in Moldova, a public-private partnership between the City of Chisinau and selected investor(s). The ESCO is intended to be launched as a tool to help promote additional investments in the field of energy-efficiency in the municipal sector in Moldova. The purpose of the project preparation grant is to fully design the activities, outputs, and outcomes of ESCO Moldova project in close cooperation with a team of 3 other consultants (1 international, 2 national), UNDP Moldova office and the UNDP Bratislava Regional Centre.

An international ESCO expert is being hired to prepare and finalize the package of documentation to the GEF Secretariat before the end of the year (UNDP project document, GEF Request for CEO Endorsement and GEF Tracking Tool). As part of this work, it is essential to further define and elaborate the mandate of ESCO Moldova and identify investors and shareholders who will participate in the company once the project is fully operational. In order to be successful, an operational ESCO requires a business plan which indicates the route to profitability, a shareholders agreement, and a strong management team in place.

For this reason, an international corporate finance expert will be hired to take the lead role in identifying potential investor(s) in ESCO Moldova and helping to define the structure under which ESCO Moldova will operate once it is operational.

Two national consultants will support the work of the international experts.


Duties and Responsibilities

The responsibility of the international corporate finance expert is to attract an investor or investors into ESCO Moldova and to help define the structure of the company once it is operational.

The international corporate finance expert is responsible for conducting discussions and initial negotiations with a wide range of potential investors and based on this for providing an investor attraction report. The investor attraction report will form the basis upon which the City of Chisinau will choose a partner or partners for establishing ESCO Moldova. Once this initial selection of an investor or investors has been made it will then be possible for the international corporate finance expert to assist with drafting an initial termsheet between the City of Chisinau and an investor or investors. The international corporate finance expert will endeavor to prepare this termsheet in such a manner that it can be signed before the end of the assignment. Finally, the international corporate finance expert will be responsible for preparing a draft business plan for ESCO Moldova. Work on this draft business plan will only start once it is clear who the investor/investor(s) into ESCO Moldova are going to be. It is recognized that at some point in time, legal costs may be incurred in order to finalize a shareholders agreement/investment agreement between the City of Chisinau and an investor(s). It is not the responsibility of the international corporate finance expert to prepare this shareholders agreement. Additional legal costs may need to be incurred.

The key products to be delivered are as follows:
  • A Detailed Project Workplan detailing all the project outputs and when they will be delivered and which includes a long list of all potential investors/partners for ESCO Moldova who will be consulted during the course of the assignment (at the start of the assignment)
  • An ‘Investor Attraction Report’ which describes in detail the interest of various potential investors/partners in ESCO Moldova and concludes with (i) recommendations on how to proceed with which investor(s) and (ii) a proposed shareholders structure for ESCO Moldova and (iii) provides advice on the business strategy for ESCO Moldova (following mission 1)
  • An acceptable ‘Termsheet’ between the City of Chisinau and an investor/investor(s) which will outline the capitalization requirements of ESCO Moldova, what assets and cash the company will contain once it is operationalized, the proposed shareholders structure of the new company, and the basic elements of a shareholders agreement that will need to be drafted by lawyers once the basic terms have been agreed. The international corporate finance expert will aim to assist the UNDP Country Office and the City of Chisinau with having the termsheet signed between the City and the investor(s) but it is not the final responsibility of the international corporate finance consultant to have this termsheet signed (following mission 1)
  • A draft ‘Business Plan’ for ESCO Moldova which helps to define the business strategy, estimates financing requirements, undertakes SWOT analysis, and makes an estimate of revenues and costs over the next five years. The draft business plan will be the last activity to be prepared under this assignment as work on the draft business plan can only be prepared once an investor(s) have been identified and basic terms agreed. It is accepted that once the company is fully capitalized and operational that the business plan will need to be further updated and improved. (following mission 2)
In addition, the international corporate finance consultant is expected to provide feedback and comments to the draft GEF request for CEO endorsement and the UNDP project document and to a draft shareholders agreement which will need to be drafted once an investor(s) have been identified and basic terms of the partnership have been agreed.


Competencies

    Functional Competencies:
    • Experience with having successfully transacted corporate finance deals in the last 5 years in Moldova/Romania
    • Strong interpersonal skills, communication and diplomatic skills, ability to work in a team
    • Ability to plan and organize his/her work, efficient in meeting commitments, observing deadlines and achieving results
    • Openness to change and ability to receive/integrate feedback
    • Ability to work under pressure and stressful situations
    • Strong analytical, reporting and writing abilities

    Corporate Competencies:
    • Demonstrates integrity by modeling the UN’s values and ethical standards;
    • Promotes the vision, mission, and strategic goals of UNDP;
    • Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability
    • Treats all people fairly without favoritism;
    • Fulfills all obligations to gender sensitivity and zero tolerance for sexual harassment

     


Required Skills and Experience

Education
  • Graduate degree in business, economics, engineering, environmental science or equivalent experience

Experience

  • At least 7 years’ experience in working with companies or on projects in the energy sector in the eastern Europe and CIS region
  • At least 7 years’ experience in working with companies or on projects in the energy sector in Moldova/Romania in the last 5 years
  • Experience with having successfully transacted a corporate finance deal within the last 5 years in the energy sector and for an ESCO company or in the energy sector or non- energy sector corporate finance deal or worked on a deal which was not successfully concluded. For the avoidance of doubt, transacted a deal means that the deal was successfully concluded with capital being invested into the company
  • Experience in having developed business plans for companies and having provided business advisory services
Language Requirements:
  • English; excellent English writing skills; knowledge of Romanian and/or Russian would be an asset
Documents to be included when submitting the proposals:

Interested individual consultants must submit the following documents/information (as either one or several attachments) to demonstrate their qualifications: 

  • A brief Cover letter explaining why you are the most suitable candidate for the advertised position and explaining when, if selected, you could start this assignment
  • Copy of your Most Recent P11 and CV
  • Financial Proposal* - specifying a total lump sum amount for the tasks specified in this announcement. The financial proposal shall include a breakdown of this lump sum amount (number of anticipated working days – in home office and on mission, travel – international and local, per diems and any other possible costs)  
Financial Proposal
 
Lump sum contracts  

The financial proposal shall specify a total lump sum amount, and payment terms around specific and measurable (qualitative and quantitative) deliverables (i.e. whether payments fall in installments or upon completion of the entire contract). Payments are based upon output, i.e. upon delivery of the services specified in the TOR. In order to assist the requesting unit in the comparison of financial proposals the financial proposal shall include a breakdown of this lump sum amount (number of anticipated working days – in home office and on mission, travel – international and local, per diems and any other possible costs), preferably according the above template.
 
Travel

All envisaged travel costs must be included in the financial proposal. This includes all travel to join duty station/repatriation travel. In general, UNDP should not accept travel costs exceeding those of an economy class ticket. Should the IC wish to travel on a higher class he/she should do so using their own resources.

The International Expert will have two missions to Moldova: the first mission is anticipated for July 2013, the second - for September/October 2013. The number of days spent in Moldova for each mission is 5 days.

In the case of unforeseeable travel, payment of travel costs including tickets, lodging and terminal expenses should be agreed upon, between the respective business unit and Individual Consultant, prior to travel and will be reimbursed.

Please note that the financial proposal is all-inclusive and shall take into account various expenses incurred by the consultant/contractor during the contract period (e.g. fee, health insurance, vaccination, office costs and any other relevant expenses related to the performance of services...).  

Payments will be made only upon confirmation of UNDP on delivering on the contract obligations in a satisfactory manner in accordance with milestones.

Individual Consultants are responsible for ensuring they have vaccinations/inoculations when travelling to certain countries, as designated by the UN Medical Director. Consultants are also required to comply with the UN security directives set forth under dss.un.org.

Applications

Applications can be from individuals or from a company. In the event a company is applying, then UNDP can use the reimbursable loan agreement (RLA) modality for contracting. Companies which apply to this tender should use on the application only the CV of the one person who is applying for the consultancy position and not provide detailed company background.

Qualified women and members of minorities are encouraged to apply.

Due to large number of applications we receive, we are able to inform only the successful candidates about the outcome or status of the selection process.

Incomplete applications will not be considered

Please make sure you have provided all requested materials including brief cover letter, P11, cv, and financial proposal as either one or several attachments to your email. Incomplete applications (after the deadline) will not be considered. Late applications which are submitted after the deadline will also not be considered.

Evaluation

Initially, individual consultants will be short-listed based on the following minimum qualification criteria:

  • Graduate degree in business, economics, engineering, environmental science or equivalent experience
  • At least 7 years’ experience in working with companies or on projects in the energy sector in the eastern Europe and CIS region

The short-listed individual consultants will be further evaluated based on the following methodology:

Cumulative analysis

The award of the contract shall be made to the individual consultant whose offer has been evaluated and determined as:

  • responsive/compliant/acceptable, and
  • having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation.
Technical Criteria – 60% of total evaluation – max. 300 points:
  • Graduate degree in business, economics, engineering, environmental science or equivalent experience - 25 points max
  • At least 7 years’ experience in working with companies or on projects in the energy sector in the eastern Europe and CIS region - 40 points max
  • At least 7 years’ experience in working with companies or on projects in the energy sector in Moldova/Romania in the last 5 years- 30 points max
  • Experience with having successfully transacted a corporate finance deal within the last 5 years in the energy sector and for an ESCO company or in the energy sector or non- energy sector corporate finance deal or worked on a deal which was not successfully concluded. For the avoidance of doubt, transacted a deal means that the deal was successfully concluded with capital being invested into the company - 50 points max
  • Experience in having developed business plans for companies and having provided business advisory services - 30 points max
  • Fluency in English (knowledge of Romanian and Russian is an advantage) - 25 points max
  • Interview (demonstrated technical knowledge and experience; communication/ interpersonal skills; initiative; creativity/ resourcefulness)  - 100 points max

Financial Criteria – 40% of total evaluation – maximum 200 points.

The winning candidate will be the candidate, who has accumulated the highest aggregated score (technical scoring + financial scoring).


UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.


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