Principal Investment Officer, Renewable Energy at African Development Bank - AfDB

Position Number: 50078315
Position Grade: PL4

The Complex

• The Vice-Presidency for ‘Power, Energy, Climate Change and Green Growth’ (PEVP) is a Sector Complex focusing on the Bank’s first High-5 priority - “Light up and Power Africa” - in particular, through public and private investments, technical assistance and capacity-development support in the areas of power systems (generation, transmission and distribution), policy and regulation, renewable energy, energy efficiency, and climate change and green growth.

The Department / Division

• Situated within PEVP, the Renewable Energy and Energy Efficiency Department (PERN) has the broad objective of promoting the development of renewable energy - both large and small scale – also including energy efficiency and clean cooking activities.
• More specifically, the department is mandated to (i) function as a one-stop source / hub for renewable energy, energy efficiency and clean cooking programmes/projects (ii) focus on accelerating “market development” with an emphasis on developing new approaches / areas (e.g. mini-grid programmes, thematic or country focused funds) and play a lead role in establishing region- or country-specific programmes (iii)  mobilise concessional resources as part of the structuring of blended finance solutions for projects and programmes.
• The Renewable Energy Funds (PERN.3) Division leads the implementation of specific initiatives in the area of renewable energy – in particular fund investments and fund management. Specifically, PERN.3 manages the Sustainable Energy Fund for Africa (SEFA) Special Fund operations entailing technical assistance and concessional investments across its three focus areas – Green Mini-Grids, Green Baseload and Energy Efficiency - and plays a lead role, together with other PEVP units, in the origination, appraisal and supervision of equity and debt fund investments in the renewable energy and energy access space.

The Position

• The Principal (Renewable Energy) Investment Officer will support and assist across a range of activities linked to the origination, financial structuring, and implementation of renewable energy projects - particularly in the decentralized renewable energy space - and support the implementation of SEFA private sector activities and initiatives.
• The job holder will focus on (i) the identification, preparation, and implementation of renewable energy and energy access projects or initiatives, such as equity funds or corporate platforms, covering solar home systems, mini-grids, commercial and industrial (C&I) solar and independent power producers); (ii) leadership and/or support to the implementation of SEFA blended finance transactions;  and (iii) portfolio management of projects under the responsibility of PERN.3; and (iv) support to any other priorities assigned by management.

Key Functions
Under the overall supervision and guidance of the Division Manager - Renewable Energy Funds, the Principal (Renewable Energy) Investment Officer will perform the following:

• Support the identification and development of a robust renewable energy pipeline, including both grid-connected and decentralized projects, as well as financial intermediaries in the equity and debt space.
• Lead/support the structuring of renewable energy and energy access scale-up programs involving public and private sector participation.
• Lead the preparation, due diligence/appraisal, negotiation/closing, and supervision of renewable energy projects, with a focus on decentralized energy (solar home systems, mini-grid and C&I space).
• Develop innovative and appropriate financial structures for complex transactions, including through the blending of concessional/climate capital with commercial funding.
• Support the development of financial solutions and instruments to overcome identified bottlenecks to the scale-up of renewable energy in Africa.
• Build and maintain strong relationships with clients, especially regional renewable energy and energy access developers and sponsors, utilities, corporates, banking and multilateral partners and government officials to develop specific investment opportunities.
• Supervise existing portfolio of investments in closed-ended equity and debt funds, ensuring strong synergies with Bank activities at the country and project levels, including co-financing opportunities.
• Lead/Participate and manage project teams, mentor and develop junior staff, advise management, share knowledge and ideas, to ensure strong and effective internal cooperation and delivery of results.
• Perform any other duty assigned by the Division Manager or Director.

Competencies (Skills, Experience and Knowledge)

• At least a Master's Degree in Economics, Finance, Business, Engineering, Energy and/or a professional qualification such as Chartered Financial Analyst (CFA), Chartered Accountant (ACCA) or related subjects.
• Have a minimum of six (6) years professional experience at project level, broad knowledge of various energy sub-sectors, including renewable energy technologies and business models.
• Deal structuring and closing experience in project and/or corporate finance transactions in Africa, ideally with some exposure to asset-backed financings, capital markets transactions and guarantees.
• Experience in Multilateral or Development Bank / Development Financial Institutions operations, preferably in an African context is an added advantage
• Experience with investing through intermediaries, notably private equity funds, debt funds and commercial Banks is an added advantage.
• Experience in climate finance mobilization and blended finance structures and solutions.
• Full knowledge of the principles of project cycle and project implementation;
• Strong interpersonal and client orientation skills, with proven experience in building and managing teams.
• Ability to communicate orally and in writing effectively in French or English, with a good working knowledge of the other language.