Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) EG-Ain Sokhna Power Project (P100047) MIDDLE EAST AND NORTH AFRICA | Egypt, Arab Republic of | Energy & Extractives Global Practice | IBRD/IDA | Specific Investment Loan | FY 2009 | Seq No: 15 | ARCHIVED on 27-Jun-2016 | ISR23971 | Implementing Agencies: EEHC Key Dates Key Project Dates Bank Approval Date:29-Jan-2009 Effectiveness Date:13-Aug-2009 Planned Mid Term Review Date:01-Dec-2016 Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2015 Revised Closing Date:30-Jun-2017 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objectives are to (i) assist the Government of Egypt to ensure continuous electricity supply to meet demand in a sustainable manner through investment in new generation capacity; and (ii) improve the sector's financial sustainability by providing assistance to the Egyptian Electricity Holding Company (EEHC) to support sector revenue improvements. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Construction of Ain Sokhna Power Plant:(Cost $1655.33 M) Technical Assistance:(Cost $1.47 M) Generation Transmission Connection and Strengthening:(Cost $190.00 M) Physical Contingencies:(Cost $33.90 M) Price Contingencies:(Cost $16.30 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Moderately Satisfactory 6/27/2016 Page 1 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) Overall Risk Rating  Moderate  Moderate Implementation Status and Key Decisions The 1,300 MW Ain Sokhna power plant was completed in April 2015 and is in full operation. The additional capacity contributed to turning the 5,540 MW peak capacity deficit in the summer of 2014 into an expected surplus in the summer of 2016, thereby overcoming the capacity shortage in the grid that led to significant power outages in the summers of 2013 and 2014. A level II restructuring on December 4, 2013 reallocated US$179.5mn in savings from the power plant component to a newly added transmission component, implemented by EETC. The transmission component includes (a) the 500kV grid interconnection of the Helwan South Power station and (b) a connection of the Ain Sokhna power plant to the 220kV grid. Technical assistance for tariff reform to reach and sustain cost recovery is provided under a third component. The technical assistance on electricity tariffs contributed to a major tariff reform in 2014, which included the announcement of a five-year electricity tariff schedule, and a feed-in tariff for renewable energy which was introduced in November 2014. The reforms and actions on energy pricing, renewable energy, and energy efficiency, are expected to improve the financial situation in the sector which still remains fragile. Further attention to energy efficiency is important to improve electricity supply. The Bank continues to support pricing reform in the energy sector through a large number of technical assistance activities in addition to a three-year DPF program. 6/27/2016 Page 2 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Moderate  Moderate Macroeconomic  --  Moderate  Moderate Sector Strategies and Policies  --  Moderate  Moderate Technical Design of Project or Program  --  Low  Low Institutional Capacity for Implementation and Sustainability  --  Moderate  Moderate Fiduciary  --  Moderate  Moderate Environment and Social  --  Moderate  Moderate Stakeholders  --  Low  Low Other  --  --  -- Overall  --  Moderate  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Meeting demand: Increase in annual electricity supply (Net) with the construction of the Ain Sokhna Power Plant (Gigawatt- hour (GWh), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3500.00 4500.00 6000.00 Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDPDOTBL  Meeting the demand: Increase in annual electricity supply (Net) with the network upgrade (A1). (Gigawatt-hour (GWh), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 6723.00 Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jun-2017 6/27/2016 Page 3 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) PHINDPDOTBL  Direct project beneficiaries (Number, Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1514814.00 1514814.00 7196267.00 Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDPDOTBL  Female beneficiaries (Percentage, Core Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 49.00 49.00 49.00 PHINDPDOTBL  Financial Sustainability: Electricity average tariff (Pt/kWh) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 18.00 35.00 39.00 31.30 Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDPDOTBL  In a Sustainable Manner: Minimum Ain Sokhna power plant capacity factor (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 66.00 66.00 80.00 Date 04-Nov-2013 14-Dec-2015 01-Jun-2016 30-Jun-2017 6/27/2016 Page 4 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) PHINDPDOTBL  In a Sustainable Manner: Minimum thermal energy conversion efficiency (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 42.50 42.50 40.00 Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jun-2017 Overall Comments Intermediate Results Indicators PHINDIRITBL  Progress in construction of Ain Sokhna power plant (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0 99% 99% 100% Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jan-2015 PHINDIRITBL  Generation Capacity of Conventional Generation constructed under the project (Megawatt, Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1300.00 1300.00 1300.00 Date 30-Jun-2008 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDIRITBL  Construction of transmission lines (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 19-Nov-2013 14-Dec-2015 01-Jun-2016 30-Jun-2017 6/27/2016 Page 5 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) PHINDIRITBL  Transmission lines constructed or rehabilitated under the project (Kilometers, Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 280.00 Date 19-Nov-2013 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDIRITBL  Transmission lines constructed under the project (Kilometers, Core Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 280.00 Date 19-Nov-2013 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDIRITBL  Construction of Substations (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 19-Nov-2013 14-Dec-2015 01-Jun-2016 30-Jun-2017 PHINDIRITBL  EEHC Current Ratio (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.59 0.4 0.4 1.0 or higher Date 30-Jun-2007 14-Dec-2015 01-Jun-2016 30-Jun-2017 6/27/2016 Page 6 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) PHINDIRITBL  EEHC Devt Service Coverage Ratio (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.52 1.0 1.0 1.4 or higher Date 30-Jun-2007 14-Dec-2015 01-Jun-2016 30-Jun-2017 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P100047 IBRD-76330 Effective USD 600.00 600.00 0.00 409.49 190.51 68% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P100047 IBRD-76330 Effective 29-Jan-2009 15-Mar-2009 13-Aug-2009 31-Dec-2015 30-Jun-2017 Cumulative Disbursements 6/27/2016 Page 7 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) Restructuring History Level 2 Approved on 04-Dec-2013 Related Project(s) There are no related projects. 6/27/2016 Page 8 of 8 Public Disclosure Copy