Public Disclosure Copy The World Bank Implementation Status & Results Report Shandong Energy Efficiency Project (P114069) Shandong Energy Efficiency Project (P114069) EAST ASIA AND PACIFIC | China | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2011 | Seq No: 13 | ARCHIVED on 18-Jun-2018 | ISR32855 | Implementing Agencies: People's Republic of China, Shandong Financial Bureau Key Dates Key Project Dates Bank Approval Date:09-Jun-2011 Effectiveness Date:25-Nov-2011 Planned Mid Term Review Date:15-Sep-2014 Actual Mid-Term Review Date:03-Nov-2014 Original Closing Date:30-Sep-2016 Revised Closing Date:31-Dec-2018 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to improve energy efficiency in selected enterprises in the Borrower's Shandong Province,particularly through financial leasing arrangements, and increase use of biomass for power and heat generation. Has the Project Development Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Project Development Objective (If project is formally restructured)PHRPDODEL The objective of the Project is to improve energy efficiency in selected enterprises in the Borrower's Shandong Province,particularly through financial leasing arrangements. Components Name Energy Efficiency Service Industry:(Cost $267.00 M) Project Management, Monitoring and Evaluation:(Cost $0.40 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Unsatisfactory  Moderately Satisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Moderately Satisfactory Overall Risk Rating  Substantial  Substantial 6/18/2018 Page 1 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Shandong Energy Efficiency Project (P114069) Implementation Status and Key Decisions This project utilizing the business model of leasing agreement has demonstrated great impact for industrial energy efficiency industries with significant annual energy savings achieved. The overall project implementation is progressing smoothly. Bank team will work with PMO closely to fully disburse the loan proceeds before the project closes at the end of 2018 and ensure that the project's development objectives are met. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Low  Low Macroeconomic  --  Moderate  Moderate Sector Strategies and Policies  --  Low  Low Technical Design of Project or Program  --  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  --  Substantial  Substantial Fiduciary  --  Moderate  Substantial Environment and Social  --  Moderate  Moderate Stakeholders  --  Low  Low Other  --  --  -- Overall  --  Substantial  Substantial Results Project Development Objective Indicators PHINDPDOTBL  Associated annual energy savings capacity ('000 tce) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 188.00 188.00 318.00 Date 31-May-2011 11-Sep-2017 14-May-2018 31-Dec-2018 Comments Although only 59% of end target has been reached, achievement and even exceedance of end target is anticipated owing to large energy savings (equivalent to nearly 90% of overall end target) associated with final two subprojects that were being contracted at the time of the mission. 6/18/2018 Page 2 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Shandong Energy Efficiency Project (P114069) PHINDPDOTBL  Associated cumulative amount of funds leveraged by WB loan for energy efficiency projects (US$M) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 123.00 119.00 134.00 Date 31-May-2011 11-Sep-2017 14-May-2018 31-Dec-2018 Comments 89% of end target achieved. Figure revised downward from US$123 million to account for closure of hosts of several small subprojects. Nevertheless, achievement of end target is anticipated owing to large energy savings associated with final two subprojects that were being contracted at the time of the mission. Overall Comments Intermediate Results Indicators PHINDIRITBL  Number of satisfactory progress reports (per reporting period) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 2.00 2.00 Date 31-May-2011 11-Sep-2017 14-May-2018 31-Dec-2018 6/18/2018 Page 3 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Shandong Energy Efficiency Project (P114069) PHINDIRITBL  Cumulative energy conservation project investment flows (US$M) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 212.88 218.80 268.00 Date 31-May-2011 11-Sep-2017 14-May-2018 31-Dec-2018 PHINDIRITBL  Cumulative energy conservation project investment flows: Rongshihua (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 135.34 135.34 128.00 PHINDIRITBL  Cumulative energy conservation project investment flows: Guotai (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 62.82 68.80 100.00 PHINDIRITBL  Cumulative energy savings capacity achieved directly through project investments: Rongshihua (000 tce) (Tones/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 90.93 79.26 150.40 Date 30-Jun-2011 11-Sep-2017 14-May-2018 31-Dec-2018 Comments 53% of end target achieved. Revised downwards owing to closure of hosts of small subprojects 6/18/2018 Page 4 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Shandong Energy Efficiency Project (P114069) PHINDIRITBL  Cumulative energy savings capacity achieved directly through project investments: Guotai (000 tce) (Tones/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 73.66 63.90 117.60 Date 30-Jun-2011 11-Sep-2017 14-May-2018 31-Dec-2018 Comments 54% of end target achieved. Revised downwards owing to closure of hosts of small subprojects PHINDIRITBL  Cumulative energy savings capacity achieved directly through project investments: Luxin Energy (000 tce) (Tones/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 23.75 26.01 49.60 Date 30-Jun-2011 11-Sep-2017 14-May-2018 31-Dec-2018 Overall Comments Although the end targets for energy saving for Rongshihua and Luxin are unlikely to be achieved, Guotai is anticipated to substantially exceed its end target, such that the overall project end target will also be exceeded. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P114069 IBRD-80590 Effective USD 150.00 144.72 5.28 116.64 28.08 81% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P114069 IBRD-80590 Effective 09-Jun-2011 02-Sep-2011 25-Nov-2011 30-Sep-2016 31-Dec-2018 Cumulative Disbursements 6/18/2018 Page 5 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Shandong Energy Efficiency Project (P114069) Restructuring History Level Approved on 07-Aug-2013 ,Level 1 Approved on 30-Sep-2016 ,Level 2 Approved on 29-Mar-2018 Related Project(s) There are no related projects. 6/18/2018 Page 6 of 6 Public Disclosure Copy