Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) Sustainable Energy Finance Project (P098423) EAST ASIA AND PACIFIC | Pacific Islands | Energy & Extractives Global Practice | Global Environment Project | Investment Project Financing | FY 2007 | Seq No: 17 | ARCHIVED on 07-Dec-2017 | ISR30313 | Implementing Agencies: Department of Energy, Republic of Fiji, ANZ Key Dates Key Project Dates Bank Approval Date:12-Jun-2007 Effectiveness Date:09-Jul-2007 Planned Mid Term Review Date:30-Sep-2010 Actual Mid-Term Review Date:12-Jan-2011 Original Closing Date:31-Dec-2017 Revised Closing Date:31-Dec-2017 Global Development Objectives Global Environmental Objective (from Project Appraisal Document) The project aims to significantly increase the adoption and use of renewable energy technologies in participating Pacific Island states through a package of incentives to encourage local financial institutions to participate in sustainable energy finance in support of equipment purchase. Has the Global Environmental Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Global Environmental Objective (If project is formally restructured) The project aims to (i) significantly increase the adoption and use of renewable energy technologies and the more efficient use ofenergy through a package of incentives to encourage local financial institutions to participate in sustainable energy finance in the Recipient's Territory (Fiji) and (ii) support knowledge sharing and capacity building on renewable energy and energy efficiencytechnologies in the Participating Island States. Components Name Management, Monitoring and Evaluation:(Cost $0.76 M) Technical Assistance, Market Incentives and Communications:(Cost $1.79 M) Risk-Sharing Fund:(Cost $5.20 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory 12/7/2017 Public Disclosure Copy Page 1 of 7 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) Overall Risk Rating  Moderate  Moderate Implementation Status and Key Decisions The Project is on track to exceed the Global Environmental Objectives by the project’s current closing date of December 31, 2017. The SEFP supports investments in solar photovoltaic, pico hydro (small hydro systems), coconut oil (new and switching) and associated equipment, and other renewable energy products such as solar water heaters, and in energy efficiency equipment and programs. Investments in renewable energy and efficiency in Fiji has installed around 4.37 MW of renewable energy capacity (small scale). In addition, the SEFP has contributed to knowledge and capacity-building in areas of renewable energy and energy efficiency policies, regulation, technology, and standards; to community and user awareness on products, their applications and operations, and financial products; and to competition in the supply of renewable energy and energy efficiency equipment. Due to the success of the Project the Bank has commenced discussions on the extension of the Project by another 5 years, and to relaunch it as a regional risk facility for the benefit of the Pacific Island Countries more broadly per the original intent and design of the Project. 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  --  Low  Low Fiduciary  --  Moderate  Moderate Environment and Social  --  Low  Low Stakeholders  --  Moderate  Moderate Other  --  --  -- Overall  --  Moderate  Moderate Results Global Environmental Objective Indicators 12/7/2017 Public Disclosure Copy Page 2 of 7 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) PHINDGEOTBL  Increased lending from local financial institutions for RE and EE equipment in the Recipient’s territory(Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21.53 21.53 10.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDGEOTBL  Additional number of kW of RE and EE technology financed through approved participating financing institutions(Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.37 4.49 2.91 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDGEOTBL  Carbon Dioxide emissions avoided due to financing through project(Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.47 6.65 6.30 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDGEOTBL  Number of PICs participating in knowledge sharing and capacity building programs(Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 2.00 8.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 Overall Comments 12/7/2017 Public Disclosure Copy Page 3 of 7 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) Intermediate Results Indicators PHINDIRITBL  RSF guarantees called (Component 1) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1.00 1.00 0.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDIRITBL  Number of loans approved for (i) MSEs, (ii) community organizations and (iii) individuals (Component 1) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 69.00 70.00 30.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDIRITBL  MSEs and Community organizations participating in TA or training activities (Component 2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 5.00 8.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDIRITBL  Number of articles and broadcasts organized by the Recipient on the benefits of renewable energy and energy efficiency (Component 2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21.00 21.00 28.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 12/7/2017 Public Disclosure Copy Page 4 of 7 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) PHINDIRITBL  Number of showcases and community presentations organized by the Recipient on the benefits of renewable energy and energy efficiency (Component 2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 78.00 80.00 65.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDIRITBL  Annual reporting requirements within the direct control of the Project Manager are met (Component 3) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N Y Y Y Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDIRITBL  Knowledge-sharing and capacity building events with originally participating countries and other PICs (Component 3) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 5.00 6.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 PHINDIRITBL  Number of participants from PICs in knowledge sharing and capacity building events (Component 3) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 5.00 20.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 12/7/2017 Public Disclosure Copy Page 5 of 7 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) PHINDIRITBL  Completed MSE and end-use customer surveys (Component 3) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 12.00 12.00 8.00 Date 12-Jul-2007 08-Jun-2017 01-Dec-2017 29-Dec-2017 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed 100 P098423 TF-58282 Effective USD 5.20 5.20 0.00 5.20 0.00 % P098423 TF-58284 Effective USD 1.99 1.99 0.00 0.25 1.74 13% P098423 TF-90429 Effective USD 0.70 0.56 0.14 0.51 0.05 91% 100 P098423 TF-90430 Closed USD 0.51 0.19 0.32 0.19 0.00 % 100 P098423 TF-90431 Closed USD 0.51 0.51 0.00 0.51 0.00 % Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P098423 TF-58282 Effective 17-Aug-2007 17-Aug-2007 29-Oct-2007 31-Dec-2017 31-Dec-2017 P098423 TF-58284 Effective 09-Jul-2007 09-Jul-2007 09-Jul-2007 31-Dec-2017 31-Dec-2017 P098423 TF-90429 Effective 09-Jul-2007 09-Jul-2007 09-Jul-2007 31-Dec-2017 31-Dec-2017 P098423 TF-90430 Closed 05-Jul-2007 05-Jul-2007 28-Sep-2007 31-Dec-2017 23-Jul-2014 P098423 TF-90431 Closed 21-Jun-2007 21-Jun-2007 02-Nov-2007 31-Dec-2017 07-Jul-2014 Cumulative Disbursements 12/7/2017 Public Disclosure Copy Page 6 of 7 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Finance Project (P098423) Restructuring History Level Approved on 08-Nov-2012 ,Level 1 Approved on 24-Apr-2014 ,Level 2 Approved on 03-Oct-2017 Related Project(s) There are no related projects. 12/7/2017 Public Disclosure Copy Page 7 of 7