The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Grid-Connected Rooftop Solar Program (P155007) SOUTH ASIA | India | Energy & Extractives Global Practice | Requesting Unit: SACIN | Responsible Unit: ISAE1 IBRD/IDA | Program-for-Results Financing | FY 2016 | Team Leader(s): Amit Jain, Mani Khurana, Simon J. Stolp Seq No: 10 | ARCHIVED on 23-Dec-2020 | ISR44153 | Created by: Shalini Agrawal on 05-Nov-2020 | Modified by: Shalini Agrawal on 18-Dec-2020 Program Development Objectives Program Development Objective (from Program Appraisal Document) The PDO is to increase installed capacity of Grid-connected Rooftop Solar Photovoltaic (GRPV) and to strengthen the capacity of relevant institutions for GRPV. The Program Environmental Objective (PEO) is to achieve reductions in GHG emissions through the displacement of thermal energy with solar energy. Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Highly Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Implementation Status and Key Decisions During FY 21, SBI has sanctioned $37.83 million of loans to the solar rooftop developers and end-consumers, directly mobilizing $15 million of equity. This corresponds to 114 MW of solar rooftop capacity orders. Since the launch of the Program, cumulatively, SBI has sanctioned $265.92 million of loans mobilizing $112.75 million equity from private sources and signing 546 MW of GRPV orders. The technical assistance (TA) program is engaging with the distribution utilities in 17 states for implementing the GoI Phase-II of the grid-connected rooftop solar scheme, which targets 4000 MW of rooftop solar capacity addition in the residential sector by December 31, 2022. The TA program is supporting the states on several aspects:  Digitalizing the rooftop solar application and subsidy processes  Bid process management  Demand aggregation for both the residential sector and solarization of government buildings  Devising innovative business models,  Capacity building, among others. Further, the TA program is cooperating with the Ministry of New and Renewable Energy, Government of India, for establishing a National Renewable Energy Data Centre (NREDC) to provide renewable energy installed and generation data in real-time for informing policy measures. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P155007 IBRD-86110 Effective USD 500.00 500.00 0.00 375.92 124.08 75% P155007 TF-A2023 Effective USD 5.00 5.00 0.00 5.00 0.00 100% P155007 TF-A2401 Effective USD 120.00 120.00 0.00 75.11 44.90 63% 12/23/2020 Page 1 of 7 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P155007 IBRD-86110 Effective 13-May-2016 30-Jun-2016 28-Sep-2016 30-Nov-2021 30-Nov-2021 P155007 TF-A2023 Effective 13-May-2016 30-Jun-2016 28-Sep-2016 30-Nov-2021 30-Nov-2021 P155007 TF-A2401 Effective 13-May-2016 30-Jun-2016 28-Sep-2016 30-Nov-2021 30-Nov-2021 DLI Disbursement Achievement Disbursed amount in Disbursement % for DLI ID DLI Type Description Coc DLI Amount Status Coc DLI Loan: TFA2023-001 Establishing GRPVs 1 Regular USD 5,000,000.00 Fully Achieved 5,000,000.00 100 % program at SBI Loan: IBRD86110-001 Agg amt loan for GRPVs Partially 2 Regular USD 198,750,000.00 65,807,000.00 33 % power gen sch Achieved MW solar PV rroftop ins Partially 3 Regular USD 300,000,000.00 198,137,750.00 66 % commi Achieved Loan: TFA2401-001 Aggr amt for finan GRPV Partially 2 Regular USD 100,000,000.00 53,262,000.00 53 % power gen sch Achieved Sustainability of GRPV 4 Regular USD 20,000,000.00 Not Achieved 0.00 program Program Action Plan Monitor compliance with MNRE’s Quality Assurance and Quality Control requirements, as basic standards applicable Action Description to the market. Source DLI# Responsibility Timing Timing Value Status Other Client Due Date 31-Dec-2019 Completed SBI to (i) prepare and share report on the implementation of MNRE’s QA/QC requirements with Bank during the mid- Completion Measurement term review of the project; and (ii) share the report with MNRE In all the loan agreements between SBI and sub-borrower, there is standard clause for the borrower to ensure the Comments quality standards established by MNRE/GoI. Action Description Include the Grid Connected Solar Rooftop Program in the existing complaints handling mechanism of SBI. Source DLI# Responsibility Timing Timing Value Status Other Client Due Date 02-Apr-2018 Completed 12/23/2020 Page 2 of 7 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Information on how to access the grievance mechanism for Grid Connected Solar Rooftop Program publicized on Completion Measurement SBI’s website Comments Action Description Implement the procedures identified in the ESSA to manage environmental and social issues and risks. Source DLI# Responsibility Timing Timing Value Status Environmental and Social Client Due Date 31-Dec-2020 In Progress Systems Completion Measurement SBI to share information with Bank during the first review mission of the program SBI has shared some information, however it is identified that the reporting of ESSA requirements need to be Comments strengthened – to be conformed through mutually agreed actions. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Low Low Low Macroeconomic Low Low Low Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Substantial Moderate Moderate Institutional Capacity for Implementation and Moderate Moderate Moderate Sustainability Fiduciary Moderate Moderate Moderate Environment and Social Moderate Moderate Moderate Stakeholders Substantial Moderate Moderate Other -- Moderate Moderate Overall Substantial Moderate Moderate Results PDO Indicators by Objectives / Outcomes Capacity of GRPV connected to the grid (Megawatt, Custom) IN00914401 ►Capacity of GRPV connected to the grid (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/23/2020 Page 3 of 7 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Value 0.00 264.19 264.19 250.00 Date 30-Sep-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Comments Reduction of Carbon emissions IN00914402 ►GHG emissions (Tones/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1,200.00 Date 19-Sep-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Comments Intermediate Results Indicators by Results Areas Launch of Rooftop Solar PV program at SBI and development of internal procedures for the identification, risk assessment, appraisal and approval of rooftop solar projects. IN00914405 ►Launch of Rooftop Solar PV program at SBI and development of internal procedures for the identification, risk assessment, appraisal and approval of rooftop solar projects (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 Done Done One time Date 13-May-2016 21-Jul-2016 21-Jul-2016 30-Nov-2021 Comments Implementation of TA and capacity building program for discoms, SNAs, SERCs etc. IN00914406 ►Implementation of TA and capacity building program for discoms, SNAs, SERCs etc. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target work ongoing in 17 work ongoing in 17 States on demand States on demand Value 0.00 TA completed aggregation, policy and aggregation, policy and regulatory matter regulatory matter Date 13-May-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Year 1: Contract signed with consultant. Year 2: Phase 1 of TA completed. Year 3: Phase 2 of TA Comments completed. Amount rooftop solar loans approved by SBI IN00914407 ►Amount rooftop solar loans approved by SBI (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 12/23/2020 Page 4 of 7 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Value 0.00 228,090,000.00 228,090,000.00 625,000,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Loans approved means sanctioned by SBI. The value has reduced from earlier USD 300 million, Since the three major sanctions previously made (namely Tata Power Renewables, Hinduja Renewables and JSW Comments Solar) amounting to US$ 178.19 million have been dropped from the sanctioned projects’ list. Amount of additional equity financing from private sources mobilized by SBI IN00914408 ►Amount of additional equity financing from private sources mobilized by SBI (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 97.70 97.70 265.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Comments Phase 2 of SBI’s Rooftop Solar PV program launched IN00914403 ►Phase 2 of SBI’s Rooftop Solar PV program launched (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 Not yet due Not yet due Completed Date 13-May-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Comments Capacity (MW) of GRPV orders IN00914409 ►Capacity (MW) of GRPV orders (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 432.00 451.00 600.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Comments Capacity of rooftop solar installed and commissioned under the program (MW) IN00914404 ►Capacity of rooftop solar installed and commissioned under the program (MW) (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 264.19 264.19 500.00 12/23/2020 Page 5 of 7 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Date 13-May-2016 30-Jun-2020 02-Dec-2020 30-Nov-2021 Comments Disbursement Linked Indicators DLI_IND_TABLE ►DLI 1 DLI 1: Establishing a Rooftop Solar PV Program at the State Bank of India. (Intermediate Outcome, 5,000,000.00, 100%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 5,000,000.00 5,000,000.00 5,000,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 -- Comments ►DLI 2 DLI 2: Technical assistance to key stakeholders for the implementation of MNRE’s GRPV program (Intermediate Outcome, 13,000,000.00, 67%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 8,670,000.00 8,670,000.00 13,000,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 -- Comments ►DLI 3 DL3: Aggregate amounts of loans signed by SBI for the financing of solar (PV) rooftop power generation schemes. (Intermediate Outcome, 298,750,000.00, 0%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 176,320,000.00 176,320,000.00 298,750,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 -- Comments ►DLI 4 DLI 4: Piloting new business models (Outcome, 10,000,000.00, 0%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 0.00 0.00 10,000,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 -- Comments ►DLI 5 DLI 5: Megawatts of solar (PV) rooftop power generation installed and commissioned under SBI financing (Output, 300,000,000.00, 8%) 12/23/2020 Page 6 of 7 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 273,131,000.00 273,131,000.00 300,000,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 -- Comments ►DLI 6 DLI 6: Sustainability of GRPV program (Outcome, 20,000,000.00, 0%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 0.00 0.00 20,000,000.00 Date 13-May-2016 30-Jun-2020 02-Dec-2020 -- Comments 12/23/2020 Page 7 of 7