Vision and mission
Like the isard, a pyrenean wild goat, gaining height requires agility and a firm footing in the technical, economic, institutional, and financial complexity of both the energy system and the field!
This is the guiding principle of Adv’Izard, a company founded by Theo Cladiere, whose mission is to support States, Regulators, Operators, and Financiers as an economic and financial advisor in the energy infrastructure sector, contributing to the development of more accessible and more sustainable energy infrastructure.
Adv’Izard aims in particular to provide the following services:
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Support to ministries, regulators, and national electricity companies in emerging countries for sector regulation and the structuring of major infrastructure projects.
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Support to IPP, BESS and minigrids sponsors and investors throughout development and transaction processes, up to commissioning, notably through commercial Due Diligence in emerging markets.
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Support to DFIs for project preparation and evaluation.
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Targeted expertise on topics related to energy markets, renewable energy support schemes, and tariffs.
Adv'Izard's references
Founded in November 2025, Adv’Izard’s assignments include as of early September 2026:
- Regulatory advisor to a minigrid developer – ongoing (confidential client in Sub-Saharan Africa): supporting the developer’s engagement with the regulator on tariff validation for a minigrid portfolio, financial, economic and regulatory diagnostics.
- Solar IPP procurement for Zanzibar – ongoing (Government of Zanzibar / World Bank): structuring, procurement and transaction support (financial analysis, RFP, negotiations, closing).
- Feasibility studies for two 50 MWp PV plants in Côte d’Ivoire – finalized for one of the two (CF Optimum): financial and economic analysis
- Transaction for a metro-grid concession in the DRC – ongoing (Government of DRC / World Bank): structuring, tariff assessment, procurement and transaction support for a green metrogrid.
- Minigrid Financial model diagnostic – finalized: audit of IFC’s Scaling Mini Grids standard model and recommendations for optimization and adaptation to a specific use case.
- Teaching and capacity building – finalized: Regulation and RE support schemes (Renewable Energy Master’s at Sciences Po Rennes), Interconnection financing (TEIAS – Turkish TSO), Setting up and managing IPP projects (confidential African ministry of finance).
Theo Cladiere
Theo Cladiere is an energy economist and financial expert with 15 years of experience working with governments, regulators, utilities, private developers, financiers, and international institutions.
His experience includes:
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A unique combination of regulatory experience (French Energy Regulatory Commission – CRE), international consulting (FTI Consulting, Nodalis), and development finance (AFD, EIB).
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A proven ability to design and operationalize complex projects and public interventions.
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Strong expertise in tariffs, transmission, renewable and hydroelectric IPPs, and the financial modelling of utilities and infrastructure.
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Cross-cutting experience at the intersection of institutional, financial, economic, legal, and technical matters across more than 20 countries, mainly in Europe and Africa.
His key references notably include:
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Leading the CRE team that implemented the electricity and gas tariff shields in France (€25 billion).
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Several assignments related to electricity tariff-setting in Sub-Saharan Africa (Togo, Burkina Faso, Guinea, Gabon…).
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Multiple assignments related to the financing of electricity transmission infrastructure in Europe (North Sea), Africa, and Asia (Laos – Viet Nam), as well as support for operational unbundling of transmission in Cameroon.
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Numerous assignments related to the structuring and transaction of solar and hydroelectric projects in Sub-Saharan Africa: advising public authorities (Liberia, Togo, Niger…) and providing financial advisory to sponsors (Ethiopia, Cameroon…).
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Several assignments related to minigrid and offgrid projects (framework for electrification concessions, tariff regulation discussions, transaction advisory, good practices studies…).
Expert's countries of experience
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