Consultancy Services to Update Derisking Study and Support Preparation of Thematic Bonds/Sukuk Issuance in Local-level for Enhancing Renewable Energy Investment, Indonesia

Date documents can be requested until : 16 October 2025 16:00
Title : Consultancy Services to Update Derisking Study and Support Preparation of Thematic Bonds/Sukuk Issuance in Local-level for Enhancing Renewable Energy Investment, Indonesia
Procurement No. : 100013911
Process : RFP
Description : GGGI Indonesia Country Office is inviting eligible consulting firms and service providers to submit their proposals for the following scope of work under the RE-ACT project:

PROJECT BACKGROUND:
The Renewable Energy – Accelerated Transition in Indonesia (RE-ACT) is envisaged to contribute towards the acceleration of Indonesia’s transition from fossil-based to renewable energy and enable the achievement of the country’s renewable energy targets and more ambitious Nationally Determined Contributions (NDCs).

The RE-ACT project is providing support to the Ministry of National Development Planning (Bappenas) and the Ministry of Energy and Mineral Resources (MEMR), through three workstreams: (1) policy framework and implementation support, (2) stakeholder engagement and capacity development, and (3) de-risking instruments and financing mechanisms designed through stakeholder engagement. In addition to Bappenas and MEMR, the project will involve working with international and national partners, including but not limited to, the State Electricity Company (PLN), independent power producers (IPP), and other development partners, focusing on policy and regulatory support of renewable energy technologies from various natural resources.

Financing of renewable energy (RE) technologies and projects are key to accelerate the transition of Indonesia’s energy sector. However, investment in RE is often hampered by several key challenges. For example, tariffs that do not reflect the high project costs have attracted limited investment in RE. High costs are exacerbated by local content requirements, logistical challenges, and low electricity demand in remote areas, making renewable energy projects financially challenging. Factors such as subsidies for fossil fuels and a lack of incentives for renewable energy also contribute to this competitive disadvantage.

To address this challenge, RE-ACT will introduce derisking instruments and develop innovative financing options such as thematic bonds and blended finance models to mobilize investment for RE projects. This will also include working with the state-owned enterprise (SOE), provincial/municipal government, local development banks (BPD)/regional-owned enterprises (ROE), private investors, and financiers to improve the risk-reward profile of renewable energy investments.

In this regard, GGGI had conducted studies on various financial derisking instruments in 2019 and early 2025 to address the above challenges and identify applicable instruments to be adopted in Indonesia. GGGI is also in discussions with SOE(s), provincial/municipal government(s) in Eastern Indonesia, and ROE(s) to support issuance of thematic bonds for financing RE projects in the local level. Given the transition to a new government (both nationally and locally) following the general election in 2024, GGGI is now looking to engage and work with a Provincial Government on implementing innovative financing options and derisking mechanisms required to enhance investment in RE projects.

OBJECTIVE OF THE ASSIGNMENT:
GGGI is thus seeking the services of a specialized consulting firm to review and update GGGI’s derisking study; develop engagement strategy and secure buy-in from the local government stakeholders; design and deliver capacity enhancement measures to potential thematic bonds issuer (i.e. local development bank/BPD); and develop & recommend structuring of RE project pipelines to be financed.

For further details on the Scope of Work, please refer to the Terms of Reference available under the published Document Set.

IMPORTANT TIMELINES:
The tender submission deadline is 16 October 2025, 16:00 pm KST (Korean Standard Time) / 15:00 pm WITA.
Note: If any bidder has any request for clarification on the TOR or any part of the tender documents, GGGI will be happy to clarify if the request is received on or before 7 days before the deadline (namely: if the tender submission deadline is 16:00 15 April KST, then the due date for submission of request for clarification is 16:00 8 April KST).

Interested parties will be required to register their details on the GGGI e-Green Procurement Portal (https://in-tendhost.co.uk/gggi).

HOW TO OBTAIN THE DOCUMENTS:
Documents can be accessed via the e-Green Procurement Portal by selecting ‘View Details’ on the relevant notice and then clicking the ‘Tender Application’ button. If you are a new supplier, you will be required to register your details. If you have an existing account, you will need to login to the portal. Please refer to the guidance documents under the `Supplier Guidance` area of the portal for further information.

ONLINE TENDER MANAGEMENT:
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OPTING IN & OPTING OUT:
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SUBMITTING YOUR RESPONSE VIA THE PORTAL:
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Please read Instructions on How to submit the Proposal.

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