The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Renewable Energy Fund (P160699) AFRICA EAST | Rwanda | Energy & Extractives Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 13 | ARCHIVED on 22-Dec-2021 | ISR49603 | Implementing Agencies: Government of Rwanda, Development Bank of Rwanda (BRD) Key Dates Key Project Dates Bank Approval Date: 20-Jun-2017 Effectiveness Date: 03-Nov-2017 Planned Mid Term Review Date: 30-Sep-2019 Actual Mid-Term Review Date: 01-Nov-2019 Original Closing Date: 30-Sep-2023 Revised Closing Date: 30-Sep-2023 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to increase electricity access in Rwanda through off-grid technologies and facilitate private-sector participation in renewable off-grid electrification. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Line of Credit and Direct Financing for Off-grid Electrification:(Cost $45.94 M) Technical Assistance, Capacity Building, and Project Implementation Support:(Cost $3.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions The Renewable Energy Fund (REF) project was approved on June 20, 2017 and effective on November 3, 2017. The REF has five financing windows (Window 1: SACCOs, Window 2: Commercial banks and MFIs, Window 3: Mini-grids developers, Window 4: Direct lending to off-grid solar companies, and Window 5: Result-based partial grant to off-grid solar companies). Project implementation is on track for the achievement of the PDO, which is however currently hampered by the recently updated National Electrification Plan. The COVID-19 Pandemic has disrupted the supply chain for solar technologies and domestic travel restrictions. Social distancing measures have been impacting opportunities for trade. These impacts due to the pandemic are expected to gradually improve and resume normal retail and customer service. The Project Implementing Unit and the World Bank are closely working on market developments to identify additional supportive measures. 12/22/2021 Page 1 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate High Macroeconomic Moderate High High Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Moderate Moderate Sustainability Fiduciary Moderate Moderate Moderate Environment and Social Moderate Moderate Moderate Stakeholders Low Substantial Substantial Other -- High High Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Increase electricity access in Rwanda through off-grid technologies IN01080657 ►People provided with new or improved electricity service (Corporate Results Indicator) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 282,543.00 340,704.00 1,800,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080658 Of which women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 124,353.00 176,794.00 936,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080659 ►Enterprises provided with access to electricity (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/22/2021 Page 2 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Value 0.00 1,309.00 1,309.00 27,500.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080660 ►Annual electricity output from renewable energy (MWh/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,846.00 2,298.00 13,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 Facilitate private-sector participation in renewable off-grid electrification IN01080656 ►Increased private sector investment in renewable energy electrification (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,427,299.00 3,067,627.00 41,000,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 Intermediate Results Indicators by Components Line of Credit and Direct Financing for Off-grid Electrification IN01080662 ►Number of districts covered by participating market enablers (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 30.00 30.00 30.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080664 ►Number of participating SACCOs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 56.00 56.00 30.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 Number of SACCOs that have signed the Subsidiary Financing Agreement (SFA) with BRD. Comments: IN01080665 ►Total funding drawdown by SACCOs from the facility (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 12/22/2021 Page 3 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Value 0.00 1,527,430.00 1,576,880.00 4,000,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080666 ►Total funding onlent by SACCOs to households and enterprises (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 317,178.00 317,178.00 4,000,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080667 ►Total funding onlent by SACCOs to female applicants (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 35.00 35.00 30.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080668 ►Average NPL ratio of SACCOs portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.50 5.50 5.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080669 ►Number of SACCOs trained (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 68.00 68.00 30.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080670 ►Number of participating Banks (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 7.00 8.00 10.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080671 ►Total funding drawdown by Banks from the facility (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2,722,104.00 2,722,104.00 8,000,000.00 12/22/2021 Page 4 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080672 ►Total funding onlent by Banks to households and enterprises (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 720.00 201,215.00 8,000,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080673 ►Total funding onlent by Banks to female applicants (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080674 ►Average NPL ratio of Banks portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.90 4.90 5.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080675 ►Total funding onlent to mini-grid developers (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5,000,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080676 ►Number of people provided with access to electricity by household connections (mini-grids) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 105,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080677 ►Renewable energy generation capacity in mini-grids constructed under the project (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1.10 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080678 12/22/2021 Page 5 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) ►Total funding onlent to off-grid solar companies (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3,344,923.00 3,344,923.00 13,940,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080679 ►Average NPL ratio of off-grid solar companies portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 7.20 7.20 5.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080680 ►Number of people provided with access to electricity by household connections (off-grid solar) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 282,543.00 340,704.00 1,695,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080681 ►Renewable energy generation capacity from solar home systems under the project (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.97 1.40 6.60 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080683 ►Total result-based grant financing provided (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,333,707.00 1,333,707.00 15,000,000.00 Date 31-Mar-2020 29-Oct-2021 30-Nov-2021 29-Sep-2023 Since the last ISR, the PIU has disbursed a total of 11 claims (US$1.3 million) under Window 5 and 3 companies made multiple claims as a result of the removal of conditionality for accessing the grant Comments: financing under Window 5 IN01080682 ►Total financing leveraged by the facility from private and other sources (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3,102,576.00 3,102,576.00 79,000,000.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 12/22/2021 Page 6 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Technical Assistance, Capacity Building, and Project Implementation Support IN01080661 ►Number of citizen engagement events (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 38.00 38.00 10.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 IN01080663 ►Number of knowledge sharing events (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 33.00 33.00 10.00 Date 20-Jun-2017 29-Oct-2021 30-Nov-2021 30-Sep-2023 Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P160699 TF-A4969 Effective USD 27.50 27.50 0.00 6.25 21.25 23% P160699 TF-A4990 Effective USD 21.44 21.44 0.00 6.78 14.66 32% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P160699 TF-A4969 Effective 20-Jun-2017 07-Jul-2017 03-Nov-2017 30-Sep-2023 30-Sep-2023 P160699 TF-A4990 Effective 20-Jun-2017 07-Jul-2017 03-Nov-2017 30-Sep-2023 30-Sep-2023 Cumulative Disbursements 12/22/2021 Page 7 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History Level 2 Approved on 24-Apr-2020 ,Level Approved on 19-May-2020 Related Project(s) There are no related projects. 12/22/2021 Page 8 of 8