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: 6 | ARCHIVED on 02-Dec-2019 | ISR39192 | 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: 27-Jan-2020 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 Moderately Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions This is the sixth ISR after the approval of the project on March 30, 2017 by the World Bank’s Board. As of this 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 Bank team has been approached by Government of Madhya Pradesh for additional parks of 1500 MW. The cumulative commitment for these new parks is expected to commit the balance funds under Phase I of the project. However, restructuring of the project will be undertaken to extend the project closing date as well as to expand the project scope to allow for any balance funds, if any, after committing funds to pipeline solar parks. The Bank team continues to support Himachal Pradesh (through Energy Sector Management Assistance Program (ESMAP)) to assess a business case for 1 GW solar park in Spiti Valley, which is a tough terrain and at a very high altitude. An 12/2/2019 Page 1 of 4 The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) environment and social screening/baselining of the proposed sites has been conducted. Based on the initial assessment, it was agreed that, apart from the sites already explored, more areas need to be identified so as to achieve 1 GW capacity. 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 IN00763083 ►Generation Capacity of Renewable Energy (other than hydropower) constructed (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 740.80 984.00 1,750.00 Date 30-Mar-2017 31-Mar-2019 30-Aug-2019 31-Jul-2022 250 MW of Mandsaur and 734 MW (of 750 MW) Rewa commissioned as on March 31 , 2019. Comments: IN00763084 Generation Capacity of Renewable Energy constructed-Solar (Megawatt, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 740.80 984.00 1,750.00 IN00763085 ►GHG Emissions Reduction (Tons of CO2 equivalent per year) (Tones/year, Custom) 12/2/2019 Page 2 of 4 The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,357.00 1,950.00 6,300.00 Date 30-Mar-2017 31-Mar-2019 30-Aug-2019 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$23 million) IN00763206 ►Investment mobilized in solar projects in solar parks under the project (US$ Million) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 755,000,000.00 755,000,000.00 1,428,000,000.00 Date 30-Mar-2017 31-Mar-2019 30-Aug-2019 31-Jul-2022 IN00763207 ►Grievances received that are addressed within two months of receipt (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 30-Mar-2017 31-Mar-2019 30-Aug-2019 31-Jul-2022 Overall Comments IR Only one grievance reported so far at Rewa for higher compensation that has been taken up by RUMSL with the local district administration. 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 8.50 66.50 11% 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 2.76 20.24 12% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date 12/2/2019 Page 3 of 4 The World Bank Implementation Status & Results Report Shared Infrastructure for Solar Parks Project (P154283) 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 Restructuring History Level 2 Approved on 22-Aug-2017 Related Project(s) P168144-Financing Facility for Green Energy Investments 12/2/2019 Page 4 of 4