Transition to End Coal (TRANSEND): Financial Advisory Services for the Early Retirement of a Coal-Fired Power Plant (CFPP)

New amendment added #2: This second amendment is to :Extend the submission deadline to 19 July 2024. 

New clarification added: 1. From the pre-bid meeting, we understand that the CFPP identified is owned by private consortium (IPP); could we understand for the purpose of this RFP, if the Financial Advisor will be engaging with multiple shareholders in the Consortium or single party (as the representative of the Consortium).There will be a focal from the consortium. But, financial advisors may also need to engage with other shareholders.2. We kindly request for UNOPS to consider time extension to the current final proposal submission dateline of 5 July 2024. We propose for 2 weeks extension to ensure competitiveness and quality of the proposal given the requirement to arrange for collaboration with local partner for this project.Deadline will be extended until 19 July 2024.3. We refer to the following description from the RFP (page 10; under Deliverable 3: Financial Modelling and Refinancing of the CFPP): "The consultants will facilitate the transition deal, and support the owners in all the negotiations with financiers/refinancing parties until the deal is executed" To clarify that the deliverable 3 includes the execution of the deal until signing of the Refinancing Facility Agreement only. The support to Financial Close (i.e. monitoring and support of satisfaction of Condition Precedents) is expected to happen under the deliverable 5 (ad-hoc advisory support). Kindly confirm if our understanding is correct.This is correct4. Can we understand better of the identified CFPP offtake structure. Can we assume that the plant already have long-term offtake contract in place?This cannot be disclosed at this stage.5. What is the expected level of UNOPS' involvement in the negotiations with investors?ETP would like to be informed but not be directly involved with the negotiations.6. During the negotiation with investors, is the Financial Advisor expected to act on behalf of UNOPS or the plant owners?The financial advisor is expected to act on behalf of the plant owners.7. Would like to gain better clarity on UNOPS role. Will UNOPS make concessional capital available for the sponsors? (i.e. concessional capital from UNOPS fund)UNOPS will not take part on any investments. ETP's role is to provide the necessary advisory services accessible to a CFPP that would like to undertake an early decommissioning transaction.8. We refer to the following description in the RFP (Page 10, Deliverable 3: Financial Modeling and Refinancing of the CFPP), "f. Recommend CFPP asset management strategies within the refinancing framework." May we clarify on the nature and extent of asset management strategies that is expectedThis would be defined on a case by case scenario, but relates mainly to the ownership structure, and how an asset would be managed under a new type of ownership model.

New clarification added: QUESTION and ANSWERWe are considering splitting one of the named key roles in our technical response, which we believe will result in an improved team structure. If we are clear on how these individuals' experience maps to the requirements set out in the RFP, and that collectively our team meets these requirements, please confirm that this is acceptable to ETP.  UNOPS is not very clear on this question. If the plan is to propose 2 persons for 1 position required, this is allowed, but the bidder is required to indicate who will be the main key personnel. The scoring will be made against the main key personnelThe Schedule of Requirements requires that the consultant conduct 2 trips to the CFPP, which is understood. This requirement is noted specifically under Deliverable 2. Is the expectation that the consultant schedules both of these trips during the first 3 months of the assignment (i.e., to align with completion of Deliverable 2), or that the consultant proposes times at which they consider the trips should take place? The two trips does not need to happen on the first 3 months. The schedule of trips can be spread out across the project period whenever appropriate. The exact dates will be determined through a pre-agreed workplan after contract signing.We note that this ETP is unable to disclose which CFPP is the subject of the proposed restructuring transaction. The CFPP involved and the complexity of the existing commercial and financing arrangements could have a material impact on the level of effort required for Deliverables 2 and 3. Our intention is to clearly state our assumptions in estimating level of effort in Section 2.1 of Form D in our Technical Response. Please confirm that this approach is appropriate. This is acceptable.Please confirm where the existing equity investors in the plant are normally based? We note the requirement for at least two trips to Visayas, but would like to confirm the most appropriate location for meetings with shareholders. Please work on the presumption that unless otherwise stated, all meetings will be in Manilla. If requrements emerge outside of this, we will address through future contract variations.Please confirm how the costs for Deliverable 5 should be treated in completing Table 1 in Form C. Our understanding is that Deliverable 5 costs should not be included in "Total financial proposal for personnel costs" because these costs do not form part of the "lump sum costs". However, we are unsure whether these costs should feed into the "Total price" in the final row of Table 1 in some other way? The costs for Deliverable 5 should be included under the Table 1 in Form C exactly the way the template is indicated.Please confirm that the timescales for the legal and technical advisory work with ensure that the diagnostic reports completed by both advisors will be available to feed into the financial advisor's Deliverable 2.  The teams will work in parallel. The timescales and the dependence on other team's outputs will be discussed at the inception stage.Please confirm that ETP will facilitate initial interactions between the appointed advisors and the CFPP. YesWe note that ETP has confirmed that the CFPP is engaged and bought into the refinancing concept. Please also confirm that the CFPP and its shareholders have confirmed their willingness to share key information and agreements relevant to the transaction. This process is ongoing, and additional documentation may be required between consultant and CFPP, such as a nondislosure agreement (NDA).

New amendment added #1: This amendment is to:1) Upload the prebid meeting minutes and presentations 2) Add the information about the CFPP on the TOR paragraph 13 Thank you