The World Bank Implementation Status & Results Report Accelerating Renewable Energy Integration and Sustainable Energy (P172788) Accelerating Renewable Energy Integration and Sustainable Energy (P172788) SOUTH ASIA | Maldives | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2021 | Seq No: 1 | ARCHIVED on 26-Jul-2021 | ISR46082 | Implementing Agencies: Republic of Maldives, Ministry of Environment Key Dates Key Project Dates Bank Approval Date: 11-Dec-2020 Effectiveness Date: 30-Mar-2021 Planned Mid Term Review Date: -- Actual Mid-Term Review Date: Original Closing Date: 31-Jan-2026 Revised Closing Date: 31-Jan-2026 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The development objective is to increase renewable energy generation capacity and enhance the financial and environmental sustainability of the power sector in the Maldives. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1. Solar PV Risk Mitigation:(Cost $55.20 M) Component 2. Battery Energy Storage System (BESS):(Cost $23.00 M) Component 3. Grid Modernization for VRE Integration:(Cost $26.20 M) Component 4. Technical Assistance:(Cost $3.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO -- Moderately Satisfactory Overall Implementation Progress (IP) -- Moderately Satisfactory Overall Risk Rating -- Substantial Implementation Status and Key Decisions Outstanding procurement activities to be completed by the end of April by the PMU. The next mission will be scheduled around October 2021, the format of which being subject to COVID-19 restrictions at the time. 7/26/2021 Page 1 of 6 The World Bank Implementation Status & Results Report Accelerating Renewable Energy Integration and Sustainable Energy (P172788) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate -- Moderate Macroeconomic High -- High Sector Strategies and Policies Moderate -- Moderate Technical Design of Project or Program Substantial -- Substantial Institutional Capacity for Implementation and Substantial -- Substantial Sustainability Fiduciary Substantial -- Substantial Environment and Social Moderate -- Moderate Stakeholders Moderate -- Moderate Other Moderate -- Moderate Overall Substantial -- Substantial Results PDO Indicators by Objectives / Outcomes Increase renewable energy generation capacity IN00973452 ►Generation capacity of energy constructed or rehabilitated (Megawatt, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 36.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 IN00973454 Renewable energy generation capacity (other than hydropower) constructed under the project (Megawatt, Corporate Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 36.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 Enhance the financial and environmental sustainability IN00973453 ►Cost of renewable energy per unit of electricity (kilowatt-hour) achieved through competitive bidding (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 7/26/2021 Page 2 of 6 The World Bank Implementation Status & Results Report Accelerating Renewable Energy Integration and Sustainable Energy (P172788) Value 0.00 -- 0.00 0.09 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 This indicator measures the cost of renewable energy achieved through the latest competitive bidding Comments: under the Project in USD per kilowatt-hour. IN00973455 ►Avoided annual diesel consumption by power generation from renewable energy (Liters (Million), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 15.60 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 This indicator measures avoided annual diesel consumption from renewable energy projects supported by Comments: the Project. IN00973456 ►Net annual greenhouse gas (GHG) emissions reduced (Metric tons/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 33,500.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 This indicator measures net annual greenhouse gas emission reduced from solar PV generation capacity Comments: installed (tCO2e/year) Intermediate Results Indicators by Components Solar PV Risk Mitigation IN00973457 ►Private capital mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 45,000,000.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 Comments: This indicator measures total private investments mobilized for solar PV. Battery Energy Storage System (BESS) IN00973459 ►Installed capacity of BESS (Megawatt hour(MWh), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 50.00 7/26/2021 Page 3 of 6 The World Bank Implementation Status & Results Report Accelerating Renewable Energy Integration and Sustainable Energy (P172788) Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 Comments: This indicator measures the total BESS capacity constructed under the project in MWh. Grid Modernization for VRE Integration IN00973460 ►Electrical transmission and distribution lines (medium and low voltage) constructed and/or rehabilitated (Kilometers, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 140.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 Length of medium voltage and low voltage transmission and distribution lines constructed and/or Comments: rehabilitated during implementation. Technical Assistance IN00973458 ►Number of new renewable energy jobs created (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 18.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 Comments: Number of new jobs created in the renewable energy sector during implementation IN00973461 Number of new renewable energy jobs created (female) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 12.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 IN00973462 ►Number of individuals entering Project-funded RE job training (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 44.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 Number of individuals entering renewable energy job training, funded under Component 4 of the Project Comments: during implementation IN00973463 Number of individuals entering Project-funded RE job training (female) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 22.00 7/26/2021 Page 4 of 6 The World Bank Implementation Status & Results Report Accelerating Renewable Energy Integration and Sustainable Energy (P172788) Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 IN00973464 ►Percentage of received grievance that are resolved (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 90.00 Date 30-Oct-2020 -- 17-May-2021 31-Jan-2026 This will measure the efficiency of the GRM management by the PMU. This is a Beneficiary Feedback Comments: indicator which responds to the Bank's Citizen Engagement approach. Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P172788 IDA-D7440 Effective USD 12.40 12.40 0.00 0.00 12.55 0% P172788 TF-B4303 Effective USD 23.00 23.00 0.00 0.00 23.00 0% P172788 TF-B4305 Effective USD 7.00 7.00 0.00 0.00 7.00 0% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P172788 IDA-D7440 Effective 11-Dec-2020 02-Mar-2021 30-Mar-2021 31-Jan-2026 31-Jan-2026 P172788 TF-B4303 Effective 11-Dec-2020 02-Mar-2021 30-Mar-2021 31-Jan-2026 31-Jan-2026 P172788 TF-B4305 Effective 11-Dec-2020 02-Mar-2021 30-Mar-2021 31-Jan-2026 31-Jan-2026 Cumulative Disbursements 7/26/2021 Page 5 of 6 The World Bank Implementation Status & Results Report Accelerating Renewable Energy Integration and Sustainable Energy (P172788) PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 7/26/2021 Page 6 of 6