The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) EAST ASIA AND PACIFIC | Indonesia | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2020 | Seq No: 9 | ARCHIVED on 29-Mar-2024 | ISR60118 | Implementing Agencies: Government of Indonesia, PT Sarana Multi Infrastruktur (Persero) Key Dates Key Project Dates Bank Approval Date: 26-Sep-2019 Effectiveness Date: 11-Dec-2020 Planned Mid Term Review Date: 18-Nov-2025 Actual Mid-Term Review Date: Original Closing Date: 31-Oct-2029 Revised Closing Date: 31-Oct-2029 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objectives are to scale up investment in geothermal energy development and support the Borrower in its efforts to reduce greenhouse gas emissions in the country. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1 – Geothermal Resource Risk Mitigation Facility:(Cost $455.00 M) Component 2 – Technical Assistance and Capacity Strengthening:(Cost $10.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Moderately Unsatisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions The Geothermal Resource Risk Mitigation (GREM) Facility is in operation by PT Sarana Multi Infrastruktur (PT SMI). PT SMI operates the Facility based on the Operations Manual completed for this Project and the Developers Manual, publicly disclosed on PT SMI website. PT SMI has been intensively discussing with various public and private developers to conduct preliminary technical and environmental and social safeguards screenings, prepare clear timeline and the facility requirements. The first two GREM Pre-Proposal applications were received under the public window in December 2022 and January 2023. The formal applications are expected to be submitted to PT SMI in June/July 2024. MPA Program Development Objective 3/29/2024 Page 1 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) MPA PDO Table The Program Development Objective is to increase the share of renewable energy in Indonesia's energy mix. MPA Table Multiphase Programmatic Approach (MPA) Status MPA Table Body Based on the performance of the GREM Project, downsizing the ambition of an MPA to a single project is under consultation with relevant stakeholders. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Moderate Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Substantial Substantial Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Substantial Substantial Substantial Other -- Moderate Moderate Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Facilitate investment in geothermal resource confirmation IN01407929 ►PrDO: Generation capacity of geothermal sub-projects reaching financial close (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1,000.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Feb-2029 No projects are yet initiated on site Comments: IN01407930 3/29/2024 Page 2 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) ►PrDO: Estimated GHG emission reduction compared to business as usual baseline (Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 187,000,000.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Feb-2029 No projects are yet initiated on site Comments: IN01407931 ►Phase1: Generation capacity of geothermal sub-projects reaching financial close (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 600.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Feb-2029 No projects are yet initiated on site Comments: IN01407932 ►Phase1: Estimated GHG emission reduction compared to a business-as-usual baseline (Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 112,300,000.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 No projects are yet initiated on site. Comments: Intermediate Results Indicators by Components Geothermal Resource Risk Mitigation Facility IN01407933 ►Funding Proposals Approved (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 PT SMI has received two pre-application for two potential subprojects from PT GDE. PT SMI has completed the due diligence of the technical documentation for recommendation to JC, who is processing their decision. The preparation of safeguards instruments is ongoing and funding proposal approval are Comments: expected in June/July 2024 subject to the completion of safeguards instruments and technical documents. IN01407935 ►Sub-projects with Productive Resources Confirmed (Number, Custom) 3/29/2024 Page 3 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 No projects are yet initiated on site Comments: IN01407937 ►Total capital mobilized for investment in geothermal power generation (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,400,000,000.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Nov-2029 No projects have reached financial close. Comments: IN01407939 ►Private capital mobilized for investment in geothermal power generation (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,000,000,000.00 Date 28-Feb-2019 31-Dec-2022 04-Mar-2024 28-Nov-2029 No projects have reached financial close. Comments: IN01407941 ►Total number of exploration wells drilled (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 28.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Nov-2029 No projects are yet initiated on site Comments: IN01407943 ►Success rate of wells drilled (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 60.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Nov-2029 No projects are yet initiated on site Comments: IN01407945 ►Steam capacity from wells drilled (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target 3/29/2024 Page 4 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Value 0.00 0.00 0.00 48.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Nov-2029 No projects are yet initiated on site Comments: Technical Assistance and Capacity Strengthening IN01407934 ►Regulatory framework and institutional capacity conducive to geothermal investments (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Feb-2029 The Presidential Regulation No. 112 of 2022 on Acceleration of Renewable Energy Development for Electricity supply (often called PerPres 112/2022) was issued on September 13, 2022 and set higher tariffs caps for geothermal energy. The Bank prepared a Note for MoF on Renewable Energy Pricing and a Comparison of EBTKE and WB Tariff Models. This was prepared finaced jointly by GREM funds and the activity Options for Renewable Energy Tariff and Subsidy Reforms under the Programmatic Advisory Services and Analytics (PASA) P173293 funds. The Bank prepared for PLN a Geothermal Partnerhip Roadmap. This was prepared financed jointly by GREM funds and the activity Regulatory and Implementation Support for Developer-led Geothermal Exploration Drilling under the PASA P173293 funds. PT PLN is testing a partnership model recently adopted. Comments: PT PLN has not yet initiated preparation of its exploration areas and its capacity of managing geothermal development is considered to remain as baseline. PT GDE is in the process of improving its capacity of managing geothermal development through the two pre-applications submitted to GREM. PT GDE has also submitted a request to received Technical Assistance (TA) from GREM to implement their ESG Framework. PT SMI and PT GDE are preparing Terms of Reference for the Bank No Objection to acquire the pertinent consultancy support needed to deliver the TA under GREM. Finally, GREM Component 2 has covered the preparation of a study on Geothermal Drilling Costs in Indonesia for the Ministry of Energy and Mineral Resources (MEMR). This TA was requested by MEMR, who has also provided feedback and validated the results. IN01407936 ►Establishment of national standards for geothermal data registration and professional certifications for geothermal sector (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 24-Aug-2023 24-Aug-2023 30-Jun-2029 Not initiated Comments: IN01407938 ►Technical guidelines and manual for geothermal management developed for PLN (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 3/29/2024 Page 5 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) Not yet initiated Comments: IN01407940 ►Establishment of a geothermal data management tool and geothermal database for Geo Dipa (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 Not yet initiated Comments: IN01407942 ►Number of project-level Gender Action Plans (GAPs) prepared by sub-borrowers (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 No sub-project application has yet been approved. Comments: IN01407944 ►Citizen/community collaboration in planning and decision-making (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 30-Jun-2029 For the two existing pre-applications, these instruments and the plans to engage with stakeholders are Comments: delayed, with date for completion expected in Q1 FY25. IN01407946 ►PT SMI's compliance with business standards for decision making procedures (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 50.00 50.00 90.00 Date 28-Feb-2019 24-Aug-2023 04-Mar-2024 28-Nov-2029 There are no changes in arrangements since previous ISR. Comments: IN01407947 ►Women employed locally at site in technical roles (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 7.00 7.00 7.00 20.00 Date 31-May-2019 24-Aug-2023 04-Mar-2024 31-Oct-2029 3/29/2024 Page 6 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) No projects have yet been approved thus exploration sites have not yet been cleared Comments: IN01407948 ►Standard operating procedures (SOP) developed for gender-informed geothermal workplace health and safety (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target SOP in place in place No SOP currently exists No SOP currently exists No SOP currently and in line with Value in this area in this area exists in this area international best practice Date 01-May-2019 24-Aug-2023 04-Mar-2024 30-Sep-2029 PT SMI has finalised the recrutiment of the gender specialist, who is onboard since January 2024. Comments: Discussions on the need for the SOP and their preparation are underway. Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P166071 IBRD-90090 Effective USD 150.00 150.00 0.00 0.00 150.00 0% P166071 TF-B0306 Effective USD 40.00 40.00 0.00 0.00 40.00 0% P166071 TF-B0968 Effective USD 2.50 2.50 0.00 1.11 1.39 44% P166071 TF-B0979 Effective USD 32.50 32.50 0.00 0.00 32.50 0% P166071 TF-B3799 Effective USD 7.50 7.50 0.00 0.00 7.50 0% P166071 TF-B3800 Effective USD 90.00 90.00 0.00 0.00 90.00 0% P166071 TF-B3801 Effective USD 2.50 2.50 0.00 0.82 1.68 33% P166071 TF-B3811 Effective USD 1.25 1.25 0.00 0.05 1.20 4% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P166071 IBRD-90090 Effective 26-Sep-2019 28-Aug-2020 19-Jan-2021 31-Oct-2029 31-Oct-2029 P166071 TF-B0306 Effective 26-Sep-2019 28-Aug-2020 19-Jan-2021 31-Oct-2029 31-Oct-2029 P166071 TF-B0968 Effective 26-Sep-2019 28-Aug-2020 11-Dec-2020 31-Oct-2029 31-Oct-2029 P166071 TF-B0979 Effective 26-Sep-2019 28-Aug-2020 11-Dec-2020 31-Oct-2029 31-Oct-2029 3/29/2024 Page 7 of 8 The World Bank Implementation Status & Results Report Indonesia Geothermal Resource Risk Mitigation Project (GREM) (P166071) P166071 TF-B3799 Effective 17-Dec-2020 18-Dec-2020 29-Jan-2021 31-Oct-2029 31-Oct-2029 P166071 TF-B3800 Effective 17-Dec-2020 17-Dec-2020 18-Dec-2020 31-Oct-2029 31-Oct-2029 P166071 TF-B3801 Effective 17-Dec-2020 17-Dec-2020 18-Dec-2020 31-Oct-2029 31-Oct-2029 P166071 TF-B3811 Effective 24-Aug-2020 17-Dec-2020 18-Dec-2020 30-Sep-2025 30-Sep-2025 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 3/29/2024 Page 8 of 8