The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) EAST ASIA AND PACIFIC | Indonesia | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2020 | Seq No: 3 | ARCHIVED on 23-Dec-2020 | ISR45043 | Implementing Agencies: PT Sarana Multi Infrastruktur (Persero), Government of Indonesia Key Dates Key Project Dates Bank Approval Date: 26-Sep-2019 Effectiveness Date: 11-Dec-2020 Planned Mid Term Review Date: 18-Nov-2025 Actual Mid-Term Review Date: Original Closing Date: 31-Oct-2029 Revised Closing Date: 31-Oct-2029 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objectives are to scale up investment in geothermal energy development and support the Borrower in its efforts to reduce greenhouse gas emissions in the country. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1 – Geothermal Resource Risk Mitigation Facility:(Cost $455.00 M) Component 2 – Technical Assistance and Capacity Strengthening:(Cost $10.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions The Project was approved by the Board of Directors of the World Bank on September 26, 2019. It is expected to achieve effectiveness by the first quarter of 2021. MPA Program Development Objective MPA PDO Table The Program Development Objective is to increase the share of renewable energy in Indonesia's energy mix. 12/23/2020 Page 1 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) MPA Table Multiphase Programmatic Approach (MPA) Status MPA Table Body The Geothermal Resource Risk Mitigation (GREM) Project is a 10-year program under a Multiphase Programmatic Approach (MPA) aimed at supporting the Government of Indonesia in its goal to achieve the target of 23 percent of renewable energy (RE) in the national energy mix by 2025. This MPA consists of two phases: the first phase (the Project) will start up the program, whereas the second phase will scale up investment, reflect on changes and streamline learning. The Project will catalyze financing and risk-sharing arrangements to help reduce the risk of exploration, which is expected to lead to the development of 1 gigawatt (GW) of new geothermal generation capacity and catalyze investment of US$4 billion for steam production drilling and power plant construction. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Moderate Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Substantial Substantial Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Substantial Substantial Substantial Other -- Substantial Substantial Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Facilitate investment in geothermal resource confirmation IN00938732 ►PrDO: Generation capacity of geothermal sub-projects reaching financial close (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1,000.00 12/23/2020 Page 2 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Feb-2029 IN00938733 ►PrDO: Estimated GHG emission reduction compared to business as usual baseline (Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 187,000,000.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Feb-2029 IN00938734 ►Phase1: Generation capacity of geothermal sub-projects reaching financial close (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 600.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Feb-2029 Comments: Generation capacity at financial closure IN00938735 ►Phase1: Estimated GHG emission reduction compared to a business-as-usual baseline (Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 112,300,000.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Comments: Net GHG emission accounting Intermediate Results Indicators by Components Geothermal Resource Risk Mitigation Facility IN00938741 ►Funding Proposals Approved (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Comments: Number of funding proposals approved by PT SMI IN00938743 ►Sub-projects with Productive Resources Confirmed (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/23/2020 Page 3 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Value 0.00 0.00 0.00 7.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Number of sub-projects where geothermal resources have been confirmed as being adequate for further Comments: development as evidenced by the developer decision to continue. IN00938745 ►Total capital mobilized for investment in geothermal power generation (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,400,000,000.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Nov-2029 Total public and private capital mobilized, as confirmed by funding confirmation for public projects and Comments: financial close for private projects. IN00938747 ►Private capital mobilized for investment in geothermal power generation (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,000,000,000.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Nov-2029 Comments: Private capital mobilized, as confirmed by financial close. IN00938749 ►Total number of exploration wells drilled (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 28.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Nov-2029 Exploration wells drilled by developers with agreed funding proposals. It assumes three wells are drilled Comments: per funding proposal. IN00938751 ►Success rate of wells drilled (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 60.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Nov-2029 The percentage of wells drilled that are confirmed with steam production at or over the minimum level set Comments: in the exploration plan. IN00938753 ►Steam capacity from wells drilled (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 48.00 12/23/2020 Page 4 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Nov-2029 Comments: It assumes six megawatts per sub-project with productive resources confirmed Technical Assistance and Capacity Strengthening IN00938742 ►Regulatory framework and institutional capacity conducive to geothermal investments (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Feb-2029 As a result of the technical assistance and capacity building provided, (i) MEMR has made changes to regulation(s) regarding licensing and tariff-setting, (ii) PLN has successfully implemented public-private Comments: partnerships that secure private sector investments and adopted economic off-take pricing regime, and (iii) Geo Dipa and PLN have improved capacity for management of geothermal development. IN00938744 ►Establishment of national standards for geothermal data registration and professional certifications for geothermal sector (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Establishment of national standards for data registration under MEMR for uniform description of Comments: geothermal resources and development of professional certifications to increase the availability and caliber of Indonesian experts in geothermal resource assessments and drilling management IN00938746 ►Technical guidelines and manual for geothermal management developed for PLN (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Technical guidelines and manual developed to improve PLN's capacity for management of geothermal Comments: development IN00938748 ►Establishment of a geothermal data management tool and geothermal database for Geo Dipa (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Geothermal data management tool and geothermal database established and relevant training provided to Comments: Geo Dipa to improve its capacity for management of geothermal development IN00938750 ►Number of project-level Gender Action Plans (GAPs) prepared by sub-borrowers (Number, Custom) 12/23/2020 Page 5 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Gender Action Plan prepared for each sub-project by the respective developer Comments: IN00938752 ►Citizen/community collaboration in planning and decision-making (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 31-May-2020 15-Dec-2020 30-Jun-2029 Sub-borrowers have enabled citizen / community collaboration in planning and decision-making related to proposed sub-project development evidenced through annual Citizen and Community Feedback Comments: Summaries submitted to Borrower with information about the feedback received from citizens and communities and how this has been incorporated in decisions related to the sub-project development. IN00938754 ►PT SMI's compliance with business standards for decision making procedures (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 90.00 Date 28-Feb-2019 31-May-2020 15-Dec-2020 28-Nov-2029 Compliance with business standards (maximum turnaround time for the different decision making Comments: procedures) as indicated in the PT SMI Operations Manual IN00938755 ►Women employed locally at site in technical roles (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 7.00 7.00 7.00 20.00 Date 31-May-2019 31-May-2020 15-Dec-2020 31-Oct-2029 Staff with technical background as opposed to administration, service, accounting etc - to be defined in Comments: the Operations Manual IN00938756 ►Standard operating procedures (SOP) developed for gender-informed geothermal workplace health and safety (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target SOP in place in place No SOP currently exists No SOP currently exists No SOP currently and in line with Value in this area in this area exists in this area international best practice Date 01-May-2019 31-May-2020 15-Dec-2020 30-Sep-2029 Standard operating procedures (SOP) developed for gender-informed geothermal workplace health and Comments: safety 12/23/2020 Page 6 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed Not P166071 IBRD-90090 USD 150.00 150.00 0.00 0.00 150.00 0% Effective Not P166071 TF-B0306 USD 40.00 40.00 0.00 0.00 40.00 0% Effective P166071 TF-B0968 Effective USD 2.50 2.50 0.00 0.00 2.50 0% P166071 TF-B0979 Effective USD 32.50 32.50 0.00 0.00 32.50 0% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date Not P166071 IBRD-90090 26-Sep-2019 28-Aug-2020 -- 31-Oct-2029 31-Oct-2029 Effective Not P166071 TF-B0306 26-Sep-2019 28-Aug-2020 -- 31-Oct-2029 31-Oct-2029 Effective P166071 TF-B0968 Effective 26-Sep-2019 28-Aug-2020 11-Dec-2020 31-Oct-2029 31-Oct-2029 P166071 TF-B0979 Effective 26-Sep-2019 28-Aug-2020 11-Dec-2020 31-Oct-2029 31-Oct-2029 Cumulative Disbursements 12/23/2020 Page 7 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) 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. 12/23/2020 Page 8 of 8