Due to the risks and high transactions costs for both projects and financiers associated with the development of small-scale renewable energy projects, the FIRST will be established to alleviate these constraints through a number of interventions. These include the establishment of a Technical Assistance (TA) Facility which will provide grants and/or non-interest bearing loans to project developers to cover certain project development costs, including a range of third party advisory services (such as feasibility studies, EIAs etc.).
This TA service aims to lower the fixed costs associated with SPIPPP project preparation, improve the quality of projects developed, enhance their commercial viability and facilitate skills transfer to the developers. In addition, FIRST will provide direct project funding to an envisaged portfolio of between 15 – 25 qualifying SPIPPPs.
Genesis Analytics is part of a pre-qualified bidding consortium, with responsibility for the establishment and management of the TA Fund. Genesis has extensive experience across a range of sectors and applications of successfully designing and managing such funds. To help fulfil the management and oversight of this TA Fund, Genesis will deploy a full-time specialist Fund Manager. We may need this appointment to be staffed from an outside resource. If so, the appointment will be for a period of one year, renewable, and would begin in February 2015 (depending on the award of the management contract). The Fund will operate from Genesis’ Johannesburg offices.