Finance Specialist – Distributed Renewable Energy (DRE)

INTRODUCTION

The Common Market for Eastern and Southern Africa (COMESA) is a regional integration grouping of 21 African States which have agreed to promote regional integration through trade development and transport facilitation. COMESA has also established a number of institutions to support integration.

The Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) Program is an ambitious leap toward universal energy access and the clean energy transition in the Eastern and Southern Africa (AFE) region, home to 656 million people. ASCENT presents a programmatic framework for the World Bank to support acceleration of access to electricity in AFE, which utilizes the Multiphase Programmatic Approach (MPA).  The Project activities are based on known technologies and business and implementation models. Grid electrification will use well-established technologies and methods. The typical investments will include extensions and strengthening of low-voltage (LV) and medium-voltage (MV) lines, substations, transformers, and service drops. The projects may finance ready boards and internal wiring to increase affordability of connections, as well as appliances and productive-use equipment. Country-specific projects may also include variable renewable energy (VRE) integration investments and equipment, including battery storage. Financing of large-scale transmission is not expected; however, on case-by-case basis.

PROJECT BACKGROUND:

Accelerating Sustainable and Clean Energy Access Transformation (ASCENT) (P180547) is a multi-year, multi-billion-dollar programme aimed at scaling-up energy access in the Eastern and Southern Africa (AFE) Region. The ASCENT program seeks to increase access to sustainable and clean energy, enhance energy security, promote renewable energy solutions, and strengthen climate resilience throughout the region.

Funded by a $5 billion financing envelope from the World Bank’s International Development Association (IDA), ASCENT aims to mobilize an additional $10 billion from public and private sources. The project will span over 20 countries in Eastern and Southern Africa during a seven-year period (FY24–FY30). Key targets include providing electricity access to 100 million people and clean cooking solutions for 20 million people.

The ASCENT focuses on three key pillars:

• Regional and National Platforms to Accelerate Energy Access
• Expanding Grid-based Electrification
• Scaling Distributed Renewables and Clean Cooking

The Regional Energy Access Acceleration Platform (REAAP) is part of ASCENT Phase 1 pillars for delivery.  Managed by COMESA, REAAP aims to provide comprehensive technical assistance (TA) and capacity building for participating countries and the private sector. REAAP will drive the acceleration of energy access in the region and provide support to countries that have joined the ASCENT programme, as well as those that are preparing their projects for program entry. The REAAP includes the following components:

1. Component 1: Digital Monitoring, Reporting, and Verification (D-MRV) Platforms for Energy Access and Climate Finance. The Platform is supporting countries with adoption of D-MRV platforms and other digital technologies to improve sector planning; implementation of project activities; and monitoring, reporting, and verification of countries’ energy-access efforts; as well as enabling access to climate financing, including facilitating participation in carbon markets
2. Component 2: Project Preparation Facility (PPF). The PPF is a critical component of the ASCENT MPA, offering support to governments and the private sector in developing bankable, investment-ready projects through a demand-driven approach.
3. Component 3: Advisory support facility. This component is supporting participating countries on strengthening the policy and regulatory environment for energy access.
4. Component 4: Knowledge exchange, skills development, consumer engagement, convening and partnerships. This component is building data, knowledge, and skills for energy-access planners, funders, and providers, as well as their current and prospective employees and energy-access consumers. It will enable participating countries to share both technical knowledge and experience in energy-access interventions, thus facilitating faster learning and replication of successful approaches.

PROJECT IMPLEMENTATION UNIT

As part of the implementation of the project, the COMESA secretariat will set up an integrated Project Implementation Unit to support the implementation of the above-mentioned project. The Unit will be based mainly within the infrastructure with the respective technical experts integrated into respective technical divisions and units at COMESA Secretariat.

The COMESA Secretariat intends to recruit staff for the Project Implementation Unit as described in the job description below:

SCOPE OF WORK

The Distributed Renewable Energy (DRE) Finance expert will provide specialized financial expertise to support the scaling and sustainability of decentralized renewable energy systems across activities of the COMESA’s Regional Energy Access Acceleration Platform (REAAP).  The expert will play a key role in developing, implementing, and strengthening financial mechanisms, business models, and investment strategies to accelerate energy access and support clean energy market development in COMESA Member States. This position also includes active engagement with governments, development partners, private sector actors, investors, and other stakeholders to mobilize resources and create enabling financial environments for DRE solutions.

Under the direct supervision of the Technical Manager and the overall supervision of ASCENT Project Coordinator, the DRE Finance Specialist will contribute financial expertise to several components, in particular the Project Preparation Facility (PPF) and the Advisory Support Facility:

1. Project Preparation Facility (PPF): Support the PIU’s Technical Manager and the PPF Manager in the design and implementation of TA and grants that lead to unlocking finance for DRE projects. The DRE Finance Specialist will support the PPF’s three subcomponents:
   1. project development support to national agencies to prepare investment-ready and bankable projects;
   2. Cross-border solutions through identification prioritization, and facilitation of cross-border energy provision among multiple countries, spanning grid connections, on-grid renewable energy, and DRE solutions, as well as clean cooking, with the objective of accelerating energy access in COMESA border areas; and
   3. Support to private-sector DRE and clean cooking companies to prepare investment ready and bankable private-sector DRE and clean cooking projects.
2. Advisory Support Facility (ASF): Support the PIU’s Technical Manager in delivery of the ASF services to ASCENT Member States related to the design and adoption of innovative financing instruments that can increase the availability and reduce the cost of financing for DRE and enable access to climate financing and participation in carbon markets. The DRE Finance Expert shall provide leadership in the accomplishment of the following specific activities:
   1. Supporting governments in preparing, updating, and operationalizing public financing strategies and mechanisms (eg credit lines, guarantees, subsidies) to support different types of DRE projects (off-grid solar, mini-grids, electrification of public institutions, productive use of renewable energy (PURE), etc);
   2. Preparing regional and country-specific energy-access investment prospectuses and roadmaps and supporting associated convening and roadshows to mobilize financing;
   3. Supporting the adoption of best practices in DRE financing policies and regulations driving regional harmonization,
   4. Promoting innovative financing strategies like financial aggregation suitable to specific DRE technologies like, mini grids and off-grid solutions, and
   5. Identifying and removing financing barriers (e.g., high interest rates, excessive collateral requirements and lack of local currency financing) via analytics, technical assistance, advocacy, and
   6. Convening knowledge exchange, including lead financing skills development, consumer engagement, convening and partnerships, building data, knowledge, and skills for energy-access planners, funders, and providers, as well as their current and prospective employees and energy-access consumers.
      

The DRE Finance Expert will have the following key responsibilities to support the successful implementation of the PPF and ASF:

1. Leverage knowledge of regional financial markets to identify potential sources of funding and investment opportunities for DRE. This includes understanding the investment climate and structuring deals to attract both domestic and international investors;
2. Develop and implement innovative financing strategies and mechanisms to support the growth of DRE projects. This could involve exploring and promoting non-traditional forms of financing such as green bonds, blended finance, and crowd funding;
3. Advise ASCENT Country Governments on public financing mechanisms (concessional finance, guarantees, other fiscal incentives, etc), energy-sector reform dialogue, and mobilization of private capital with particular focus on acceleration access to electricity through a comprehensive approach (grid, mini grid, off-grid);
4. Advise ASCENT Country Governments on public financing mechanisms and other ways of incentivizing investment on specific electricity access initiatives, such as the electrification of public institutions (schools, health facilities) and PURE.;
5. Lead analytical work on DRE access, especially on financing aspects;
6. Build a pipeline of new DRE investments supported by quality analytical work;
7. Build on existing partnerships with development partners and other stakeholders (like AMDA, GOGLA, GET.invest, GEAPP, ESMAP), to drive the broader electricity access agenda including improving conditions for access expansion in fragile states and core sector structural and financial sustainability reforms;
8. Liase closely with the PPF Manager on financial issues related to provision of TA support to the private sector and public sector projects;
9. Be part of the team evaluating/assess reports/recommendations from the PPF with regards to project development support;
10. Support ASCENT technical team’s monitoring the progress on the implementation of the ASCENT programme initiatives, ensuring alignment with COMESA and World Bank strategic objectives and impact on regional development;
11. Prepare and submit statutory progress reports, particularly with respect to PPF activities;
12. Review financial data and investment portfolios under the Project Preparation Facility;
13. Develop and co-develop blogs, training materials and other knowledge products (e.g., reports, issue briefs, working papers, and technical notes) on sustainable finance;
14. Represent ASCENT at regional and international conferences, workshops, and meetings; and
15. Performs any other job-related duties as assigned by the Supervisor from time to time .

REQUIRED SKILLS AND COMPETENCIES  

1. In-depth knowledge of financing mechanisms (public and private) for DRE applied to energy access; covering equity, debt, guarantees, and grants, subsidies and impact incentives.
2. General knowledge of the energy sector, and energy access in particular, in the region: energy policy, energy access strategies and plans, public and private-sector stakeholders, etc.
3. Interpersonal and negotiation skills: A good listener who is able to provide a positive, useful response. Patient, adaptable professional who creates win-win situations with integrity.
4. Strong analytical and problem-solving skills: Ability to parse energy access data and information to develop creative, rational solutions focusing on making sense of the facts and figures and using logical thinking practices to come up with energy access solutions.
5. Demonstrated ability to lead and engage with diverse stakeholders on renewable energy system questions or related complex technical topics
6. Demonstrated ability to work well in multi-disciplinary and multi-cultural teams, manage multiple priorities, and work under tight deadlines
7. Collaborative problem solver who can take initiative and set priorities
8. Excellent oral and written communication skills
9. Ability to present complex information in a clear and concise manner
10. Detail-oriented, organized, and independent thinker

QUALIFICATIONS AND EXPERIENCE

1. Bachelor’s degree in finance, economics, sustainable energy, public policy, public finance or a related field.
2. A Master’s degree in the areas mentioned above would have an added advantage
3. Minimum of eight (8) years of full-time work experience in financing, of which at least four in DRE applied to energy access projects (private or public)
4. Experience working in the international energy finance arena, including work with bilateral and multilateral DFIs and with private finance
5. Experience of working in Technical Assistance Facility or a Project Preparation Facility aimed at mobilizing finance
6. Experience in finance related to national energy issues and stakeholders in Africa and/or Small Island Developing States.

WORKING LANGUAGE REQUIREMENTS FOR ALL POSITIONS  

1. Must be fluent in English – both spoken and written.
2. Knowledge of French or Portuguese will be an added advantage.

ELIGIBILITY FOR APPLICATION 

Applicants must meet the eligibility requirements for selections and contracts funded by proceeds from a World Bank funded project. Citizens of COMESA Member states are encouraged to apply.

FINAL DATE FOR RECEIPT OF APPLICATIONS 

Applications MUST be submitted electronically through email on the prescribed COMESA APPLICATION FORM which can be accessed at the following COMESA website: http://www.comesa.int/, Opportunities, COMESA Job Application Format. Applications without the COMESA Job Application Format will not be considered.

ONLY SHORT-LISTED CANDIDATES WILL BE CONTACTED.

Application should reach the address below not later than Friday 26^th December 2025 at 17:00 hours Lusaka, Zambia time.

The Director of Human Resources and Administration
Common Market for Eastern and Southern Africa
COMESA Centre
Ben Bella Road
P.O Box 30051
LUSAKA
Zambia
Email:  recruitment@comesa.int