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 (347) | Responsible Unit: ISAE1 (9260) IBRD/IDA | Program-for-Results Financing | FY 2016 | Team Leader(s): Mani Khurana Seq No: 17 | Archived on 30-Sep-2024 | ISR01775 | Created by: Sunita Singh on 11-Sep-2024 | Modified by: Abhinav Goyal on 23-Sep-2024 1. PROJECT DEVELOPMENT OBJECTIVE 1.1 Development Objective Original Development Objective (Approved as part of Approval package on 12-May-2016) 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. 2. OVERALL RATINGS Name Previous Current Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate 3. KEY ISSUES & STATUS 3.1 Implementation Status and Key Decisions The original Program, "Grid-connected Rooftop Solar," for commercial and industrial consumers, closed on June 28, 2024. The Additional Financing (AF): Rooftop Solar Program for the Residential Sector became effective on March 21, 2024. Since its effectiveness, and as of August 31, 2024, the State Bank of India (SBI) has signed and sanctioned approximately 8,000 loans, amounting to about US$18 million, to rooftop solar systems installed in the residential sector. This would translate to an estimated solar rooftop installed capacity of 24 MW in the residential sector. 4. DATA ON FINANCIAL PERFORMANCE Sep 30, 2024 Page 1 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) 4.1 Disbursements (by loan) Loan/Credit/TF Status Original Revised Cancelled Disbursed Undisbursed % Disbursed Historical Disbursed IBRD-86110 Closed 500.00 500.00 0.00 500.00 0.00 100.00 500.00 % TF-A2401 Closed 120.00 120.00 0.00 100.00 20.00 83.33% 120.00 TF-A2023 Closed 5.00 5.00 0.00 5.00 0.00 100.00 5.00 % IBRD-94260 Effective 150.00 150.00 0.00 0.38 149.62 0.25% 150.00 4.2 Key Dates (by loan) Loan/Credit/TF Status Approval Signing Effectiveness Orig. Closing Rev. Closing IBRD-86110 Closed 13-May-2016 30-Jun-2016 28-Sep-2016 30-Nov-2021 28-Jun-2024 IBRD-94260 Effective 28-Jun-2022 22-Dec-2023 21-Mar-2024 30-Nov-2027 30-Nov-2027 TF-A2023 Closed 13-May-2016 30-Jun-2016 28-Sep-2016 30-Nov-2021 28-Jun-2024 TF-A2401 Closed 13-May-2016 30-Jun-2016 28-Sep-2016 30-Nov-2021 28-Jun-2024 4.3 Program Action Plan Monitor compliance with MNRE’s Quality Assurance and Quality Control requirements, as Action Description basic standards applicable to the market. Source DLI# Responsibility Timing Timing Value Status Other NA Client Due Date 31-Dec-2019 Completed Completion SBI to (i) prepare and share report on the implementation of MNRE’s QA/QC requirements Measurement with Bank during the mid-term review of the project; and (ii) share the report with MNRE In all the loan agreements between SBI and sub-borrower, there is standard clause for the Comments borrower to ensure the quality standards established by MNRE/GoI. Include the Grid Connected Solar Rooftop Program in the existing complaints handling Action Description mechanism of SBI. Sep 30, 2024 Page 2 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Source DLI# Responsibility Timing Timing Value Status Other NA Client Due Date 02-Apr-2018 Completed Completion Information on how to access the grievance mechanism for Grid Connected Solar Rooftop Measurement Program publicized on SBI’s website SBI has created a dedicated email ID: rooftopsolar.cc@suprabha.org to respond to any Comments queries and redress any complaints. Implement the procedures identified in the ESSA to manage environmental and social issues Action Description and risks. Source DLI# Responsibility Timing Timing Value Status Environmental and NA Client Due Date 31-Jul-2023 Completed Social Systems Completion SBI to share information with Bank during the first review mission of the program Measurement SBI has shared some information, however, the reporting of ESSA requirements needs to be Comments strengthened–to be confirmed through mutually agreed actions. 5. KEY DATES Key Events Planned Actual Approval 13-May-2016 13-May-2016 Effectiveness Not Available 28-Sep-2016 Mid-Term Review No. 01 30-Nov-2018 26-Nov-2018 Operation Closing/Cancellation 30-Nov-2027 6. SYSTEMATIC OPERATIONS RISK-RATING TOOL Last Approved Rating Risk Category Rating at Approval ISR Seq. 016 - 27 Mar Proposed Rating 2024 Political and Governance  Low Low Macroeconomic  Moderate Moderate Sep 30, 2024 Page 3 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Sector Strategies and Policies  Moderate Moderate Technical Design of Project or Program  Moderate Moderate Institutional Capacity for Implementation and  Moderate Moderate Sustainability Fiduciary  Moderate Moderate Environment and Social  Moderate Moderate Stakeholders  Moderate Moderate Overall  Moderate Moderate Sep 30, 2024 Page 4 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) 7. RESULTS 7.1 PDO Indicators by PDO Outcomes Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year Capacity of GRPV connected to the Comments on achieving targets DLI achievement verification is under process. grid (Megawatt) GHG emissions (Metric tons/year) Comments on achieving targets GHG emissions will be reported at the end of the program. 7.2 Intermediate Results Indicators by Results Areas Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year 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) Implementation of TA and capacity building program for discoms, SNAs, SERCs etc. (Text) Amount rooftop solar loans approved Comments on achieving targets DLI achievement verification is under process. by SBI (Amount(USD)) Sep 30, 2024 Page 5 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) Amount of additional equity Comments on achieving targets DLI achievement verification is under process. financing from private sources mobilized by SBI (Amount(USD)) Sustainability of GRPV program at SBI Comments on achieving targets The disbursement is under process. (Text) DLI Capacity (MW) of GRPV orders Comments on achieving targets The DLI Verification is under process. (Megawatt) Capacity of rooftop solar installed Comments on achieving targets The DLI verification is under process. and commissioned under the program (MW) (Megawatt) 7.3 Disbursement Linked Indicators (DLI) Actual (Previous) Actual (Current) PBC Name Baseline Closing Period Value Date Value Date 1:DLI 1: Establishing Value 5,000,000.00 a Rooftop Solar PV Program at the Allocated 31-Aug-2023 State Bank of India. Amount (Amount(USD)) DLI allocation 0.00 2:DLI 2: Technical Value 2,936,000.00 assistance to key stakeholders for the Allocated 31-Aug-2023 implementation of Amount MNRE’s GRPV Sep 30, 2024 Page 6 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) program (Amount(USD)) DLI allocation 0.00 3:DL3: Aggregate Value 172,290,000.00 amounts of loans signed by SBI for the financing of solar Allocated 31-Aug-2023 (PV) rooftop power generation Amount schemes. (Amount(USD)) DLI allocation 0.00 4:DLI 4: Piloting new Value 10,000,000.00 business models Allocated 30-Jun-2023 (Amount(USD)) Amount DLI allocation 0.00 5:DLI 5: Megawatts Value 271,456,000.00 of solar (PV) rooftop power generation installed and Allocated 31-Aug-2023 commissioned Amount under SBI financing (Amount(USD)) DLI allocation 0.00 6:Sustainability of Value Not yet due GRPV program at Allocated 31-Aug-2023 SBI (Text) Amount DLI allocation 0.00 Sep 30, 2024 Page 7 of 8 The World Bank Implementation Status & Results Report Grid-Connected Rooftop Solar Program (P155007) 7:Aggregate Value 0.00 amounts of sub- loan agreements signed by SBI for the financing of solar (PV) rooftop systems in the Allocated 31-Aug-2023 residential sector, Amount of which at least 50 percent should be for system sizes up to 10 kW (Amount(USD)) DLI allocation 0.00 8:Megawatts of Value 0.00 solar (PV) rooftop systems installed, commissioned, and Allocated 31-Aug-2023 connected to the grid in the Amount residential sector (Amount(USD)) DLI allocation 0.00 Sep 30, 2024 Page 8 of 8