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: GEE06 IBRD/IDA | Program-for-Results Financing | FY 2016 | Team Leader(s): Simon J. Stolp, Amit Jain, Mani Khurana Seq No: 5 | ARCHIVED on 17-Feb-2019 | ISR35140 | Created by: Shalini Agrawal on 29-Nov-2018 | Modified by: Shalini Agrawal on 12-Feb-2019 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 Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Implementation Status and Key Decisions SBI has sanctioned projects with aggregate credit facilities of US $300.86 million under the program over 119 accounts; of this disbursements of $62.12 million of financing already made. However, of these 119 accounts, 3 major sanctions (namely Tata Power Renewables, Hinduja Renewables and JSW Solar) amounting to US $ 178.19 million have not been finalized. These companies are yet to finalize their plans for financing under the solar rooftop facility. The SBI team will initiate discussions with three companies, to accelerate finalization of these sanctions. The remaining sanctioned projects of US $ 122.66 million will add more than 235 MW of solar rooftop capacity to the grid (about 62 MW has already been commissioned and vetted by the Independent Verification Agent of the program). Under the TA program, the Capacity Development Consultant is now working with SBI and Ministry of New and Renewable Energy to implement the sector-wide capacity development program which will improve the business environment for solar roof top investment. 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 0.00 188.64 311.36 38% 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 56.20 63.80 47% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date 2/17/2019 Page 1 of 6 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) 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 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 Client Due Date 31-Dec-2019 Not Yet Due Completion Measurement Comments Action Description Include the Grid Connected Solar Rooftop Program in the existing complaints handling mechanism of SBI. Source DLI# Responsibility Timing Timing Value Status Client Due Date 02-Apr-2018 Completed Completion Measurement 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 Client Due Date 31-Dec-2019 Not Yet Due Completion Measurement Comments Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating 2/17/2019 Page 2 of 6 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) 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 Sustainability Moderate Moderate Moderate 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) IN00651057 ►Capacity of GRPV connected to the grid (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 60.00 62.00 250.00 Date 30-Sep-2016 05-Apr-2018 07-Dec-2018 30-Nov-2021 Comments Reduction of Carbon emissions IN00651058 ►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 05-Apr-2018 07-Dec-2018 30-Nov-2021 GHG emissions will be done at the end of the program 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. IN00651066 ►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) 2/17/2019 Page 3 of 6 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) 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. IN00651067 ►Implementation of TA and capacity building program for discoms, SNAs, SERCs etc. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Consultants hired and Consultants hired and Value 0.00 Business plan TA completed Business plan submitted submitted Date 13-May-2016 30-Nov-2017 30-Nov-2017 30-Nov-2021 Comments Amount rooftop solar loans approved by SBI IN00651068 ►Amount rooftop solar loans approved by SBI (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 315,000,000.00 300,000,000.00 625,000,000.00 Date 13-May-2016 30-Nov-2017 07-Dec-2018 30-Nov-2021 Comments Amount of additional equity financing from private sources mobilized by SBI IN00651069 ►Amount of additional equity financing from private sources mobilized by SBI (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100,000,000.00 100,000,000.00 265.00 Date 13-May-2016 30-Nov-2017 07-Dec-2018 30-Nov-2021 Comments Capacity (MW) of GRPV orders IN00651070 ►Capacity (MW) of GRPV orders (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target 2/17/2019 Page 4 of 6 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Value 0.00 575.00 575.00 600.00 Date 13-May-2016 30-Nov-2017 07-Dec-2018 30-Nov-2021 Comments Phase 2 of SBI’s Rooftop Solar PV program launched IN00651059 ►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-Nov-2017 30-Nov-2017 30-Nov-2021 Comments Capacity of rooftop solar installed and commissioned under the program (MW) IN00651060 ►Capacity of rooftop solar installed and commissioned under the program (MW) (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 60.00 60.00 500.00 Date 13-May-2016 30-Nov-2017 30-Nov-2017 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 05-Apr-2018 07-Dec-2018 -- 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 13,000,000.00 8,670,000.00 13,000,000.00 2/17/2019 Page 5 of 6 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Date 13-May-2016 09-Aug-2017 07-Dec-2018 -- 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, 7%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 21,760,000.00 44,690,000.00 298,750,000.00 Date 13-May-2016 05-Apr-2018 07-Dec-2018 -- 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 -- 07-Dec-2018 -- Comments ►DLI 5 DLI 5: Megawatts of solar (PV) rooftop power generation installed and commissioned under SBI financing (Output, 300,000,000.00, 8%) Baseline Actual (Previous) Actual (Current) till Nov 30, 2021 Value 0.00 22,560,000.00 22,560,000.00 300,000,000.00 Date 13-May-2016 05-Apr-2018 07-Dec-2018 -- 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 05-Apr-2018 07-Dec-2018 -- Comments 2/17/2019 Page 6 of 6