The World Bank Report No: ISR10177 Implementation Status & Results India POWER SYSTEM DEVELOPMENT PROJECT IV (P101653) Public Disclosure Copy Operation Name: POWER SYSTEM DEVELOPMENT PROJECT IV (P101653) Project Stage: Implementation Seq.No: 10 Status: ARCHIVED Archive Date: 21-May-2013 Country: India Approval FY: 2008 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key Dates Board Approval Date 18-Mar-2008 Original Closing Date 31-Jul-2013 Planned Mid Term Review Date 28-Feb-2010 Last Archived ISR Date 20-Nov-2012 Effectiveness Date 16-May-2008 Revised Closing Date 31-Jul-2014 Actual Mid Term Review Date 12-Apr-2010 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the project is to strengthen India's electricity transmission system in order to increase reliable power exchange between regions and states. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Transmission System Strengthening Schemes 1000.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Highly Satisfactory Highly Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Low Low Public Disclosure Copy Overall Risk Rating Implementation Status Overview The last implementation support mission for the project was carried out in December 2012. Since then the team has been actively following up with the client regarding the actions (to be taken by POWERGRID) on regular basis. After the mission, the team also undertook a technical visit in February 2013, to follow up on portfolio disbursement. POWERGRID continues to demonstrate efficiency in project implementation and as of April 2013, almost 93% of funds have been disbursed in PSDP IV whereas for additional financing almost 80% of funds have been disbursed, more than 14 months before project closing date. With regards to disbursement target in FY13, POWERGRID has already met 78% of its target for the year and is confident to fully disburse the planned USD 45.5 million by end of June 2013. POWERGRID has recorded cost savings under the schemes approved at the appraisal stage and thus, it has proposed new schemes to utilize these balance funds that were approved by the Bank. The new schemes are also well advanced in procurement. The Bank has received the restructuring request from DEA and the team will process it shortly while undertaking a review of the entire POWERGRID portfolio. Page 1 of 5 The World Bank Report No: ISR10177 All the Key performance indicators (KPI) outperformed their targets in FY 2013. Outcome indicator (growth in inter-regional power exchange) outperformed its target by almost 17% (actual- 66 Billion Units (BU) (provisional) against target - 56 BU). This indicator had already outperformed its end project (FY2014) target (58 BU) in FY2012 itself. Further, POWERGRID has again exceeded the annual targets for the other two KPIs (result indicators). Overall, there are no significant shortcomings with respect to meeting the project Public Disclosure Copy development objectives. Locations Country First Administrative Division Location Planned Actual India Bengal State of West Bengal India State of Maharashtra Wardha India State of Madhya Pradesh Tala India Bengal Shiliguri India State of Madhya Pradesh Seoni India State of Orissa Raurkela India State of Jharkhand Ranchi India State of Chhattisgarh Raipur India State of Chhattisgarh Raigarh India State of Bihar Purnia India State of Maharashtra Parli Vaijnath India State of Orissa State of Orissa India State of Maharashtra State of Maharashtra India State of Maharashtra State of Maharashtra Public Disclosure Copy India State of Madhya Pradesh State of Madhya Pradesh India State of Chhattisgarh Korba India Rajasthan Kankroli India State of Jharkhand Jamshedpur India State of Madhya Pradesh Gwalior India Bengal Durgapur Page 2 of 5 The World Bank Report No: ISR10177 Country First Administrative Division Location Planned Actual India State of Madhya Pradesh Damoh Public Disclosure Copy India State of Madhya Pradesh Bhopal India State of Orissa Baripada India State of Maharashtra Aurangabad India State of Maharashtra Akola India Uttar Pradesh Agra India State of Chhattisgarh State of Chhattisgarh India State of Madhya Pradesh Bina India Uttar Pradesh Birsinghpur India Rajasthan Bhiwadi Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Growth in power exchange between the Text Value 37,750 GWh 66,000 GWh 58,000 GWh regions Date 30-Jun-2007 31-Mar-2013 31-Jul-2014 Comments Outperformed the target of Already met 56,000 GWh. Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Public Disclosure Copy Growth in transmission capacity - circuit kms Text Value 59,400 kms 100,107 ckm 95,000 kms Date 30-Jun-2007 31-Mar-2013 31-Jul-2014 Comments Already exceeded the end Met already year target Growth in transformation capacity - MVA Text Value 59,400 MVA 164,763 MVA 92,000 MVA Date 30-Jun-2007 31-Mar-2012 31-Jul-2014 Comments Already exceeded end year Met already target Data on Financial Performance (as of 19-Apr-2013) Page 3 of 5 The World Bank Report No: ISR10177 Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P101653 IBRD-48900 Effective 18-Mar-2008 28-Mar-2008 16-May-2008 31-Jul-2013 31-Jul-2014 Public Disclosure Copy P101653 IBRD-75930 Effective 21-Oct-2008 27-Jan-2009 30-Mar-2009 31-Jul-2014 31-Jul-2014 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P101653 IBRD-48900 Effective USD 600.00 600.00 0.00 556.77 43.23 93.00 P101653 IBRD-75930 Effective USD 400.00 400.00 0.00 321.57 78.43 80.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation POWERGRID has demonstrated efficiency in implementation and there are no significant shortcomings with respect to meeting the project development objectives. POWERGRID has recorded some cost savings and thus, proposed new schemes to utilize the available balance funds. These were approved by the Bank and are in advanced stages of procurement. Request for restructuring has been received from DEA and the team will process it shortly. Restructuring History There has been no restructuring to date. Related Projects Page 4 of 5 The World Bank Report No: ISR10177 P112798-Power System Development IV - Additional Financing Public Disclosure Copy Public Disclosure Copy Page 5 of 5