The World Bank Implementation Status & Results Report Vietnam Solar Transition Accelerator (VISTA) (P172974) Vietnam Solar Transition Accelerator (VISTA) (P172974) EAST ASIA AND PACIFIC | Vietnam | Energy & Extractives Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2021 | Seq No: 3 | ARCHIVED on 28-Jun-2023 | ISR57107 | Implementing Agencies: Ministry of Industry and Trade (MOIT), Socialist Republic of Vietnam Key Dates Key Project Dates Bank Approval Date: 13-Aug-2020 Effectiveness Date: 14-Oct-2020 Original Closing Date: 31-Mar-2025 Revised Closing Date: 31-Mar-2025 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to support the Government of Vietnam in piloting the implementation of a sustainable solar competitive bidding program to mobilize private investments Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Unsatisfactory Implementation Status and Key Decisions Vietnam Solar Transition Accelerator (VISTA) project implementation progress has been delayed due to the uncertain policy and regulatory environment for procurement of new generation capacity. In May 2023 the MOIT and the World Bank agreed in principle to cancel the grant due to lack of remaining implementation time before project closure in March 2025 and regulatory uncertainty. The team is expecting a formal request from the State Bank of Vietnam by end of August 2023. Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall Moderate Moderate High 5. Results 6/28/2023 Page 1 of 4 The World Bank Implementation Status & Results Report Vietnam Solar Transition Accelerator (VISTA) (P172974) Project Development Objective Indicators IN01318043 ►Pilot solar competitive bidding completed (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 06-Jan-2020 06-Jun-2022 06-Jun-2022 11-Feb-2025 IN01318045 ►Note on lessons learnt from the pilot tenders disseminated to key public stakeholders (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 28-Jan-2020 06-Jun-2022 06-Jun-2022 11-Feb-2025 IN01318042 ►Private investments mobilized (US$) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 350,000,000.00 Date 06-Jan-2020 06-Jun-2022 06-Jun-2022 11-Feb-2025 Overall Comments PDO Due to lack of implementation progress and agreement to cancel the RETF, the project objectives will not be achieved. Intermediate Results Indicators IN01318044 ►Recruitment of transaction advisory firm with required legal, financial and technical expertise for substation-based competitive bidding (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 04-Mar-2019 06-Jun-2022 06-Jun-2022 01-Sep-2021 IN01318061 ►Recruitment of transaction advisory firm with required legal, financial and technical expertise for solar park competitive bidding (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 27-Feb-2020 06-Jun-2022 06-Jun-2022 25-Oct-2023 6/28/2023 Page 2 of 4 The World Bank Implementation Status & Results Report Vietnam Solar Transition Accelerator (VISTA) (P172974) Overall Comments RE Due to lack of implementation of the project and decision to cancel the RETF, the indicators will not be achieved. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P172974 TF-B2332 Effective USD 1.50 1.50 0.00 0.00 1.50 0%% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P172974 TF-B2332 Effective 13-Aug-2020 14-Oct-2020 14-Oct-2020 31-Mar-2025 31-Mar-2025 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) 6/28/2023 Page 3 of 4 The World Bank Implementation Status & Results Report Vietnam Solar Transition Accelerator (VISTA) (P172974) There are no related projects. 6/28/2023 Page 4 of 4