Public Disclosure Copy The World Bank Implementation Status & Results Report Costa Rica - Cote Hydroelectric Project (P076421) Costa Rica - Cote Hydroelectric Project (P076421) LATIN AMERICA AND CARIBBEAN | Costa Rica | Energy & Extractives Global Practice | Carbon Offset | Investment Project Financing | FY 2003 | Seq No: 8 | ARCHIVED on 11-Apr-2019 | ISR36394 | Implementing Agencies: Compania Nacional de Fuerza y Luz, Not Applicable (carbon finance project) Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Umbrella Project is to support development of the international market mechanism for the new commodity known as "Emission Reductions" (ER), developed in the framework of the Kyoto Protocol. In this particular case, the project will function as an umbrella to facilitate the implementation of several subprojects in Costa Rica of which three are presented for approval at this time. The subprojects produce reductions of C02 emissions through substituting electricity produced by thermal plants with electricity from renewable sources. Has the Project Development Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Project Development Objective (If project is formally restructured)PHRPDODEL The objective of the Project is to support the National Power and Light Company (Compania Nacional de Fuerza y Luz) in developing initial experience with the Clean Development Mechanism of the Kyoto Protocol by supporting the development of a 6.95 MW capacity hydroelectric project in Costa Rica. Key Dates Key Project Dates Bank Approval Date:03-Dec-2002 Effectiveness Date:03-Dec-2002 Planned Mid Term Review Date:-- Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2013 Revised Closing Date:31-Aug-2019 Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Moderate  Low Implementation Status and Key Decisions The project continues to generate electricity at or above the original target. As a project registered under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change (UNFCCC), the Cote is generating Certified Emission Reductions(CERs). To date, four verifications have taken place as well as three issuances of CERs. A fourth issuance of CERs is expected before August 2019. 4/11/2019 Page 1 of 2 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Costa Rica - Cote Hydroelectric Project (P076421) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Low  Low Macroeconomic  --  Low  Low Sector Strategies and Policies  --  Low  Low Technical Design of Project or Program  --  Low  Low Institutional Capacity for Implementation and Sustainability  --  Moderate  Moderate Fiduciary  --  Low  Low Environment and Social  --  Low  Low Stakeholders  --  Low  Low Other  --  Low  Low Overall  --  Moderate  Low Related Project(s) There are no related projects. 4/11/2019 Page 2 of 2 Public Disclosure Copy