The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) Shared Infrastructure for Solar Parks Project (P154283) SOUTH ASIA | India | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2017 | Seq No: 4 | ARCHIVED on 02-Jan-2019 | ISR34656 | Implementing Agencies: Indian Renewable Energy Development Agency Limited, Indian Renewable Energy Development Agency Limited Key Dates Key Project Dates Bank Approval Date: 30-Mar-2017 Effectiveness Date: 31-Jan-2018 Planned Mid Term Review Date: 04-Nov-2019 Actual Mid-Term Review Date: -- Original Closing Date: 31-Jul-2022 Revised Closing Date: 31-Jul-2022 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The proposed development objective is "to increase solar generation capacity through the establishment of large-scale solar parks in the country". Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1: Shared Infrastructure for Solar Parks (estimated total project cost: US$198 million of which IBRD Loan: US$75 million and CTF Loan: US$23 million):(Cost $98.00 M) Component 2 - Technical Assistance (Estimated Cost: US$2 million of which CTF Grant:US$2 million):(Cost $2.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions This is the fourth ISR after the approval of the project on March 30, 2017. The project was approved by the World Bank’s Board on March 30, 2017. As on date, the project is supporting two solar parks – 250 MW Mandsaur Solar Park and 750 MW Rewa Solar Park, with a total commitment amount of US$31.5 million (or 31.5% of the loan amount). For the uncommitted amount, the team has been approached by Madhya Pradesh government for additional parks of 1500 MW. RFP for additional parks have already been issued and is likely to consume all of the funding available under the project. The team is also actively exploring the engagement in solar parks in the states of Tamil Nadu, Odisha and Himachal Pradesh. 1/2/2019 Page 1 of 4 The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Low Low Low Macroeconomic Low Low Low Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Sustainability Substantial Substantial Substantial Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Moderate Moderate Moderate Other -- -- -- Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes To increase solar generation capacity through the establishment of large-scale solar parks IN00645164 ►Generation Capacity of Renewable Energy (other than hydropower) constructed (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 530.00 1,750.00 Date 30-Mar-2017 -- 05-Dec-2018 31-Jul-2022 250 MW of Mandsaur and 280 MW (of 750 MW) Rewa commissioned. Comments: IN00645155 Generation Capacity of Renewable Energy constructed-Solar (Megawatt, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 530.00 1,750.00 IN00645165 ►GHG Emissions Reduction (Tons of CO2 equivalent per year) (Tones/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 342.00 6,300.00 1/2/2019 Page 2 of 4 The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) Date 30-Mar-2017 -- 05-Dec-2018 31-Jul-2022 Intermediate Results Indicators by Components Component 1: Shared Infrastructure for Solar Parks (estimated total project cost: US$198 million of which IBRD Loan: US$75 million and CTF Loan: US$23 million) IN00645190 ►Investment mobilized in solar projects in solar parks under the project (US$ Million) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 755,000,000.00 1,428,000,000.00 Date 30-Mar-2017 -- 05-Dec-2018 31-Jul-2022 IN00645191 ►Grievances received that are addressed within two months of receipt (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 100.00 Date 30-Mar-2017 -- 05-Dec-2018 31-Jul-2022 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P154283 IBRD-87370 Effective USD 75.00 75.00 0.00 4.74 70.26 6.3% P154283 TF-A4639 Effective USD 2.00 2.00 0.00 0.00 2.00 0% P154283 TF-A4648 Effective USD 23.00 23.00 0.00 1.51 21.49 6.6% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P154283 IBRD-87370 Effective 30-Mar-2017 20-Nov-2017 31-Jan-2018 31-Jul-2022 31-Jul-2022 P154283 TF-A4639 Effective 20-Nov-2017 20-Nov-2017 31-Jan-2018 31-Jul-2022 31-Jul-2022 P154283 TF-A4648 Effective 30-Mar-2017 20-Nov-2017 31-Jan-2018 31-Jul-2022 31-Jul-2022 Cumulative Disbursements 1/2/2019 Page 3 of 4 The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) Restructuring History Level 2 Approved on 22-Aug-2017 Related Project(s) P168144-Additional Financing for Shared Infrastructure for Solar Parks Project 1/2/2019 Page 4 of 4