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: 11 | ARCHIVED on 28-Jun-2021 | ISR47354 | 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 Unsatisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating High Substantial Implementation Status and Key Decisions The Renewable Energy Fund (REF) project was approved on June 20, 2017 and was effective on November 3, 2017. The REF was initially designed with four lending windows (Window 1: SACCOs, Window 2: Commercial banks and MFIs, Window 3: Mini-grids developers, Window 4: Direct lending to off-grid solar companies). Following project restructuring, a new Window 5 was opened to provide result-based partial grant to off- grid solar companies to improve affordability of the end-users. Window 5 was successfully launched on October 2nd, 2020 and has so far received 25 applications. The PIU decided on June 14th to remove any conditionality for accessing grant financing window 5 which is expected to bring the project on track for the achievement of the PDO. The COVID-19 Pandemic has disrupted the supply chain for solar technologies and domestic travel restrictions and social distancing measures have been impacting opportunities for trade. Improvements in the Pandemic impact is expected to progressively resume normal retail and customer service. The Project Implementing Unit and the World Bank are closely working market developments to identify additional supportive measures. 6/28/2021 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 Moderate 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 Substantial Moderate Sustainability Fiduciary Moderate Moderate Moderate Environment and Social Moderate Moderate Moderate Stakeholders Low Substantial Substantial Other -- High High Overall Substantial High Substantial Results PDO Indicators by Objectives / Outcomes Increase electricity access in Rwanda through off-grid technologies IN01011437 ►People provided with new or improved electricity service (Corporate Results Indicator) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 114,813.00 170,681.00 1,800,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011438 Of which women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 59,679.00 61,603.00 936,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011439 ►Enterprises provided with access to electricity (Number, Custom) 6/28/2021 Page 2 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 10.00 10.00 27,500.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011440 ►Annual electricity output from renewable energy (MWh/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 382.00 455.00 13,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 Facilitate private-sector participation in renewable off-grid electrification IN01011436 ►Increased private sector investment in renewable energy electrification (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,442,509.00 1,442,509.00 41,000,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 Intermediate Results Indicators by Components Line of Credit and Direct Financing for Off-grid Electrification IN01011442 ►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 12-May-2021 12-May-2021 30-Sep-2023 IN01011444 ►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 12-May-2021 31-May-2021 30-Sep-2023 Number of SACCOs that have signed the Subsidiary Financing Agreement (SFA) with BRD. Comments: IN01011445 ►Total funding drawdown by SACCOs from the facility (Amount(USD), Custom) 6/28/2021 Page 3 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,479,667.00 1,479,667.00 4,000,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011446 ►Total funding onlent by SACCOs to households and enterprises (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 116,113.00 122,291.00 4,000,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011447 ►Total funding onlent by SACCOs to female applicants (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 31.00 31.00 30.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011448 ►Average NPL ratio of SACCOs portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3.90 9.00 5.00 Date 20-Jun-2017 12-May-2021 12-May-2021 30-Sep-2023 IN01011449 ►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 12-May-2021 31-May-2021 30-Sep-2023 IN01011450 ►Number of participating Banks (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 6.00 10.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011451 ►Total funding drawdown by Banks from the facility (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 6/28/2021 Page 4 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Value 0.00 52,965.08 52,965.08 8,000,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011452 ►Total funding onlent by Banks to households and enterprises (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 720.00 720.00 8,000,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011453 ►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 12-May-2021 31-May-2021 30-Sep-2023 IN01011454 ►Average NPL ratio of Banks portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3.90 3.90 5.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011455 ►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 12-May-2021 31-May-2021 30-Sep-2023 IN01011456 ►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 12-May-2021 31-May-2021 30-Sep-2023 IN01011457 ►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 6/28/2021 Page 5 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011458 ►Total funding onlent to off-grid solar companies (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2,440,732.00 2,440,732.00 13,940,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011459 ►Average NPL ratio of off-grid solar companies portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011460 ►Number of people provided with access to electricity by household connections (off-grid solar) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 108,580.00 117,717.00 1,695,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011461 ►Renewable energy generation capacity from solar home systems under the project (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.21 0.25 6.60 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011462 ►Total financing leveraged by the facility from private and other sources (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,473,828.00 1,473,828.00 79,000,000.00 Date 20-Jun-2017 12-May-2021 31-May-2021 30-Sep-2023 IN01011463 ►Total result-based grant financing provided (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 56,000.00 15,000,000.00 Date 31-Mar-2020 12-May-2021 14-Jun-2021 29-Sep-2023 6/28/2021 Page 6 of 8 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) The PIU has received the first claim under Window 5 and disbursed the funds. It is also currently processing the second claim submission for additional disbursements (US$130,000). The removal of any Comments: conditionality for accessing the grant financing under Window 5 is expected to fast track grant disbursements. Technical Assistance, Capacity Building, and Project Implementation Support IN01011441 ►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 12-May-2021 31-May-2021 30-Sep-2023 IN01011443 ►Number of knowledge sharing events (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 29.00 29.00 10.00 Date 20-Jun-2017 12-May-2021 31-May-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 6/28/2021 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. 6/28/2021 Page 8 of 8