Study on Financing and Commercial Components for the ASEAN Submarine Power Cable Framework — Accelerating Sustainable Energy Transition Program

The ASEAN Centre for Energy (ACE) has received financing from the World Bank toward the cost of the Clean Energy and Power Trade Development in Southeast Asia Project as Phase 1 of the Multi-Phase Programmatic Approach Accelerating Sustainable Energy Transition/MPA ASET (P181555) and intends to apply part of the proceeds for Consulting Firm to develop a Study on Financing and Commercial Components for the ASEAN Submarine Power Cable Framework. The consulting services (“the Services”) include assessing electricity demand and potential anchor off-takers along priority submarine power cable corridors; developing minimum investment-readiness and bankability criteria; evaluating financing strategies, risk allocation, and investor protection mechanisms; developing ownership, cost allocation, and operational governance options; establishing harmonised commercial and settlement principles for cross-border electricity trading; and developing and applying an investment readiness maturity assessment tool to identify gaps, prioritise submarine interconnection projects, and support project preparation and potential financing. The assignment is expected to run for over a period of ten (10) months commencing from tentatively in January 2027. Actual commencement date will be communicated with the consulting firm that is successfully selected from the procurement process. ACE now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Interested Consultants must submit detailed documentary evidence indicating credentials to perform the services including company profiles, core business description, description of similar assignments and experience in similar conditions, qualifications relevant to this field, brochures (if available) and other relevant information. The shortlisting criteria are: A. Qualifying Criteria (Eligibility Requirement) – Pass/Fail: 1. The consulting firm must demonstrate relevant professional experience in providing consulting or advisory services in the energy sector, power infrastructure, infrastructure financing, or related fields. 2. The consulting firm must demonstrate experience in at least two (2) completed or substantially completed assignments involving power transmission infrastructure, electricity interconnection, cross-border electricity trade, regional power cooperation, or large-scale energy infrastructure development and financing. Only consulting firms meeting all qualifying criteria (Pass) will proceed to the ranking assessment. Firms failing any of the qualifying criteria will not be considered further. B. Criteria for Ranking: 1. Power Transmission and Interconnection Infrastructure Experience in submarine power cables, subsea transmission, cross-border power transmission, electricity interconnection, regional electricity trade, power system planning, demand forecasting, and renewable energy integration. 2. Infrastructure Financing and Commercial Structuring Experience in infrastructure project financing, financial modelling, bankability assessments, investment structuring, PPP, joint ventures, blended finance, guarantees, tariff methodologies, cost allocation, revenue models, and commercial arrangements. 3. Energy Sector Regulatory, Legal, and Institutional Frameworks Experience in developing energy sector legal, regulatory, and institutional frameworks, including cross-border permitting, licensing, concession arrangements, grid access, investor protection, risk allocation, and dispute resolution. 4. Regional Experience and Stakeholder Engagement Experience in ASEAN or comparable regional/multi-country energy cooperation, stakeholder engagement with governments, regulators, utilities, TSOs, investors, and development partners, and MDB/IFI-financed assignments. Key Experts will not be evaluated at the shortlisting stage. Hence, CVs are not required at this stage. The Terms of Reference (TOR) for the assignment are attached to this request for expressions of interest or can be found at the following website: https://aseanenergy.org/opportunities. The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2016, revised in sixth edition dated February 2025 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected. The Consulting firm will be selected in accordance with the Consultants Qualifications-based Selection (CQS) method. The Full Technical Proposal (FTP) format will be applied in evaluating the proposals as specified in procedures set out in the last updated version of World Bank guidelines. Further information can be obtained at the address below during office hours, 09:00 to 17:00 Jakarta Time (GMT+7). Expressions of interest must be submitted in a written form as one (1) single consolidated PDF document, including all relevant attachments or annexes, by e-mail at the latest by 13 November 2026, 23:59 Jakarta Time (GMT+7) to: ASEAN CENTRE FOR ENERGY Attn: MPA ASET PMU E-mail: asetprocurement@aseanenergy.org Subject: [EOI Submission] Study on Financing and Commercial Components for the ASEAN Submarine Power Cable Framework (ID-ACE-578697-CS-CQS) – [Insert Name of Firm]