The World Bank Vietnam Renewable Energy Development Project (P103238)

Transcription

1 Public Disclosure Authorized EAST ASIA AND PACIFIC Vietnam Energy & Extractives Global Practice IBRD/IDA Investment Project Financing FY 2009 Seq No: 15 ARCHIVED on 14-Feb-2018 ISR29615 Implementing Agencies: Ministry of Industry and Trade, The Renewable Energy Dv Public Disclosure Authorized Key Dates Key Project Dates Bank Approval Date:05-May-2009 Planned Mid Term Review Date:03-Dec-2012 Original Closing Date:30-Jun-2014 Project Development Objectives Effectiveness Date:14-Sep-2009 Actual Mid-Term Review Date:26-Nov-2012 Revised Closing Date:30-Jun-2018 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) The objective of the proposed project is to increase the supply of electricity to the national grid from renewable energy sources on a commercially, environmentally and socially sustainable basis. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Renewable Energy Investments - IDA funds:(cost $ M) Public Disclosure Authorized Regulatory Development:(Cost $1.03 M) Pipeline Development:(Cost $3.35 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions 2/14/2018 Page 1 of 9

2 As of January 15, 2018, the project has fully achieved and exceeded two main development objective indicators: (i) 960 GWh/year of renewable electricity supplied to the grid; and (ii) 5.1 GWh/year of electricity supplied to the grid by grid-connected renewables projects using avoided cost tariff (ACT). Nineteen subprojects have been approved under REDP providing an estimated amount of 1,250 GWh renewable electricity annually to the grid under REDP and exceeding the PDO target of 960 GWh/year. Among them, 14 subprojects have been completed with total capacity of MW, 960 GWh/year. The five remaining subprojects are in progress to be completed in 2018 and early 2019; most of the proposed activities under SECO grant have been completed by the Grant closing date (June 30, 2017). MOIT will use the IDA credit to complete three ongoing and new activities, and seek other grant sources to implement remaining tasks; (iii) Carbon Partnership Facilities (CPF) progressed satisfactorily. The fifth verification is expected to be conduction in March The IDA credit amount has been fully committed. The cumulative IDA disbursement was US$146.5 million (74%). The figure for the SECO Grant was US$1.524 million (67%) and an unused amount of US$ 822,243 has been returned to SECO. CPF disbursement was US$ 0.53 million or 6% of CPF fund. 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 -- Moderate Moderate Fiduciary -- Moderate Moderate Environment and Social -- Moderate Substantial Stakeholders -- Moderate Moderate Other Overall -- Moderate Moderate Results Project Development Objective Indicators PHINDPDOTBL Electricity supplied to the national grid by renewable energy project financed under REDP (Gigawatt-hour (GWh), Custom) Date 31-Dec Jun Dec Dec /14/2018 Page 2 of 9

3 PHINDPDOTBL Electricity supplied to the national grid by grid connected renewable energy projects using Avoided Cost Tariff (Gigawatt-hour (GWh), Custom) , , , Date 31-Dec Jun Dec Jun-2018 PHINDPDOTBL Percentage renewable energy projects (small hydro) meeting new environment and social best practices (Percentage, Custom) Overall Comments Intermediate Results Indicators Renewable energy capacity installed under REDP (Megawatt, Custom) Date 31-Dec Jun Dec Jun /14/2018 Page 3 of 9

4 Generation Capacity of Hydropower constructed or rehabilitated under the project (Megawatt, Custom) Generation Capacity of Hydropower constructed under the project (Megawatt, Custom Breakdown) Date 05-May Jun Jan Jun-2018 Renewable energy capacity financed using ACT by non IDA sources (Megawatt, Custom) , Date 31-Dec Jun Dec Jun-2018 Proportion of commissioned subprojects under REDP meeting appraised budget, timetable and performance (Percentage, Custom) /14/2018 Page 4 of 9

5 Law on Energy Conservation (Text, Custom) Under preparation Passed Passed Passed Renewable Energy Deverlopment Stratery (Text, Custom) Not in place Approved Approved Approved Adoption of technical standards for small hydro (Text, Custom) Not in place Technical standard for small hydro adopted Technical standard for small hydro adopted Technical standard for small hydro adopted Environmental guideline for small hydro (Text, Custom) Not in place Approved and launched Approved and launched Issued at the MTR and implemented at ICR 2/14/2018 Page 5 of 9

6 Social guideline for small hydro (Text, Custom) Not in place Approved and launched Approved and launched Issued at the MTR and implemented at ICR Annual updating of the ACT (Text, Custom) Approved Updated for 2009, 2010, 201, 2012, 2013, 2014, 2015, 2016 and New circular on ACT has been issued Updated for 2009, 2010, 201, 2012, 2013, 2014, 2015, 2016 and New circular on ACT has been issued Implemented Number of SPPAs signed for grid-connected renewables (Number, Custom) Date 05-May Jun Jan Jun-2018 National Renewable Energy Database (Text, Custom) No national renewable energy database is available Under preparation Under preparation A national renewable energy database is developed Date 30-Jun Jun Dec Jun /14/2018 Page 6 of 9

7 Capacity of pipeline of RE subprojects supported by the facility (Megawatt, Custom) Number of improved/new training courses offered on a cost-sharing basis (Number, Custom) Number of trainees from banks and sponsors (Number, Custom) Study on financing needs for pipeline of renewable energy projects (Text, Custom) None Completed Completed Completed Overall Comments 2/14/2018 Page 7 of 9

8 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P IDA Effective USD % P TF Closed USD % Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P IDA Effective 05-May Jun Sep Jun Jun-2018 P TF Closed 20-Dec Apr Apr Jun Jun-2017 Cumulative Disbursements Restructuring History Level Approved on 02-Jul-2014,Level 2 Approved on 30-Jun /14/2018 Page 8 of 9

9 Related Project(s) P Vietnam Renewable Energy Development Project 2/14/2018 Page 9 of 9