Designing the Solomon Islands Renewable Energy Fund (SIRE Fund): Phase I

Date documents can be requested until : 12 November 2025 16:00
Title : Designing the Solomon Islands Renewable Energy Fund (SIRE Fund): Phase I
Procurement No. : 100013979
Process : RFP

Date documents can be requested until : 29 October 2025 16:00
Title : Designing the Solomon Islands Renewable Energy Fund (SIRE Fund): Phase I
Procurement No. : 100013979
Process : RFP
Description : Global Green Growth Institute in Solomon Islands invites eligible companies to submit their bids for consulting services to Design the Solomon Islands Renewable Energy Fund (SIRE Fund): Phase I

PROJECT OBJECTIVES AND BACKGROUND:
The Global Green Growth Institute (GGGI) was established as an intergovernmental organization with the objective of promoting sustainable development of developing and emerging countries, including the least developed countries. GGGI is dedicated to supporting the creation and diffusion of the model of economic growth known as “green growth”. The green growth model integrates economic growth, environmental sustainability, poverty reduction, and social inclusion.

GGGI began its operations in the Solomon Islands in 2019, focusing on capacity building for renewables, energy efficiency, rural electrification, and inclusive development. Since then, GGGI has implemented several national and regional projects funded by Australia, New Zealand, South Korea, and others. Key achievements include the launch of the Solomon Islands Low Emission Development Strategy in 2023 and advancements in MRV systems, climate finance, and green entrepreneurship. GGGI's engagement aligns with the priorities of the Solomon Islands Government, particularly in areas such as green finance, climate finance access, carbon market policy development, Nationally Determined Contribution (NDC) investment planning, and e-mobility. By supporting these initiatives, GGGI aims to enhance the country's resilience to climate change and promote sustainable, inclusive growth.

The Solomon Islands has significant potential for renewable energy, particularly solar power, to address its growing energy demand and reduce reliance on fossil fuels. The Solomon Islands Government, through the National Development Strategy (2016–2035), National Energy Policy (2019), and Nationally Determined Contributions (NDCs), has committed to significantly increasing access to clean, affordable electricity, especially in rural and remote areas. Currently, less than 10% of the rural population has access to electricity. The high initial capital costs of renewable energy infrastructure, limited financing mechanisms, and low levels of private sector participation are key barriers to progress.

To address these constraints, the Solomon Islands Renewable Energy Fund (SIRE Fund) is proposed as a national financing vehicle to accelerate rural electrification and support the transition to renewable energy. The Fund is designed to operate as a revolving mechanism, similar to national transport and road funds, channeling resources from government, donors, and development partners into off-grid and mini-grid electrification, while promoting community ownership, sustainability, and private sector engagement.

Purpose of this Consultancy: This consultancy serves as Phase I of the SIRE Fund's establishment. Its primary purpose is to undertake the critical initial strategic design and feasibility assessment, building on lessons learned from similar national funds (e.g., Fiji Rural Electrification Fund - FREF, Vanuatu National Green Energy Fund - NGEF) and providing the relevant documents for the opening of the Trust Account. The outputs of this phase will provide the essential groundwork and a clear roadmap for securing additional funding and proceeding with the detailed legal establishment and full operationalization of the SIRE Fund.

PROPOSED ACTIVITIES & DETAILED SCOPE OF WORK:

The selected firm will be responsible for undertaking the following focused activities within the defined budget and timeline for Phase I:

1) Project Inception and Work Planning (Month 1)

o Conduct a virtual kick-off meeting with key stakeholders from the Ministry of Finance and Treasury (MoFT), the Ministry of Mines, Energy, and Rural Electrification (MMERE), GGGI, and the Ministry of Environment, Climate Change, Disaster Management and Meteorology.
o Prepare and submit a concise Inception Report detailing the firm's understanding of the refined Phase I scope, proposed streamlined methodology, detailed work plan aligned with the 6-month timeline, proposed stakeholder engagement strategy for Phase I, and schedule of deliverables. Include assumptions and dependencies regarding focal points, data access and logistical arrangements.

Deliverable 1: Inception Report

2) Rapid Stakeholder Needs Assessment and Preliminary Buy-in (Months 1-3)

• Identify and map critical stakeholders essential for the initial design and conceptual buy-in of the SIRE Fund (e.g., MMERE, MoFT, key bilateral donors active in SI energy, Solomon Power, select few provincial government representatives/community leaders if feasible within the travel budget).
• Organize and facilitate highly efficient, targeted consultations. It is suggested that stakeholders are categorized into priority tiers where in-person consultations limited to the most critical groups. The focus will be on:
o Validating the fundamental need and vision for the SIRE Fund.
• Gathering preliminary views on preferred institutional models (e.g., standalone entity, trust fund, integration into existing structures). Include the best suitable detailed design of each option and the necessary documentations needed for each of the preferred institutional model required by Government of Solomon Islands.
• Understanding initial perspectives on potential financial flows and sustainability mechanisms. Document key findings, consensus points, and divergent views in a concise report.

Deliverable 2: Stakeholder Consultation Summary & Preliminary Needs Assessment Report including a validated stakeholder map, a summary of risk and mitigation measures for engagement

3) Preliminary Institutional and Governance Options (Months 2-4)

o Conduct a rapid desktop review and analysis of existing national renewable energy/rural electrification fund models (e.g., FREF in Fiji, NGEF in Vanuatu), specifically focusing on their institutional structures, governance frameworks, and key lessons learned relevant to the Solomon Islands context.
o Develop a "Preliminary Options Paper" outlining 2-3 most viable institutional and governance models for the SIRE Fund. This paper will assess the pros and cons of each option in the Solomon Islands context, considering legal implications (at a high level), administrative feasibility, and alignment with national priorities. Provide the relevant documents needed has per alignment with the Ministry of Finance on the opening of a SIRE Fund.
o Propose high-level governance principles, including potential roles and responsibilities for a Fund Management Committee and Secretariat, based on best practices and the selected options.
o Draft a Hight Level Trust Deed Template with the proposed Governance Principles.

Deliverable 3: Desktop Review Report, Preliminary Institutional and Governance Options Paper with Recommendations for Phase II.

4) Initial Funding Landscape Analysis and Phased Resource Mobilization Strategy Outline (Months 3-5)

o Conduct a targeted desktop funding landscape analysis to identify potential domestic and international funding sources relevant for the SIRE Fund's capitalization (e.g., Solomon Islands Government budget lines, existing climate funds, multilateral and bilateral donors with a presence or interest in SI/Pacific renewable energy).
o Develop a high-level, phased "Resource Mobilization Strategy Outline." This will not entail securing funding in this phase, but rather clearly articulating the strategic pathways and key steps for mobilizing future capital for the SIRE Fund, explicitly linking to potential contributions from identified donors.
o Propose preliminary sustainable revenue recycling mechanisms (e.g., potential for community contributions, reinvestment of user fees) drawing on regional examples.

Deliverable 4: Initial Funding Landscape Analysis and Phased Resource Mobilization Strategy Outline.

5) Roadmap for Full Establishment & Phase I Completion (Months 5-6)

o Develop a comprehensive "Roadmap for Full SIRE Fund Establishment and Operationalization." This roadmap will clearly articulate the subsequent phases required beyond this consultancy, including estimated timelines and indicative budget needs for each (e.g., detailed legal drafting, development of comprehensive operational manual and SOPs, full-scale resource mobilization, project appraisal frameworks, capacity building for implementation).
o Support the opening of the Funding Mechanism, a summary of key documentation and analysis is required, including justifications from the Options Paper and Governance Paper, which outline the rationale, structure, and oversight of the fund. Essential documents include the fund’s operational manual, legal and financial assessments, stakeholder consultation outcomes, and monitoring frameworks. These materials will inform the preparation of a Cabinet Paper, which seeks formal government approval to establish the Trust Fund, ensuring alignment with national priorities and institutional readiness
o Clearly define how the outputs of this Phase I consultancy will directly feed into and support the next steps of the SIRE Fund's development and, if provided by GGGI, its integration with related project objectives.
o Develop a draft ToR for Phase II focusing on the Opening of the Fund with the final detailed design and establishment of the Fund, including the development of policy documents, constitution, operational guidelines

Deliverable 5: SIRE Fund Phase I Completion Report, Roadmap for Full Establishment with Support to Government of Opening of the Trust Account and Draft TOR for Phase II

Methodology Guidance: The firm is encouraged to propose a lean, efficient, and highly consultative methodology that maximizes the use of existing information, leverages GGGI's prior experience with FREF/NGEF, and prioritizes virtual engagements where appropriate to optimize the limited budget and timeline. The methodology should demonstrate a clear understanding of the Solomon Islands context and the multi-stakeholder nature of fund establishment.

For more details, please refer to the Terms of Reference (TOR) document attached.

IMPORTANT TIMELINES:
The tender submission deadline is 29 OCTOBER , 2025 16:00 HRS KOREAN STANDARD TIME (KST).

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 they are received on or before 7 days before the deadline (namely: if the tender submission deadline is 16:00 29 October, 2025 KST, then the due date for submission of request for clarification is 16:00 22 October, 2025 KST).

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

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