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 and Mining Global Practice | IBRD/IDA | Specific Investment Loan | FY 2009 | Seq No: 12 | ARCHIVED on 15-Dec-2014 | ISR17552 | Implementing Agencies: Egyptian Electricity Holding Company Key Dates Key Project Dates Board Approval date:29-Jan-2009 Effectiveness Date:13-Aug-2009 Planned Mid Term Review Date:15-Feb-2015 Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2015 Revised Closing Date:31-Dec-2015 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)  Moderately Satisfactory  Moderately Satisfactory 12/15/2014 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) Overall Risk Rating  --  Moderate Implementation Status and Key Decisions The power plant construction has progressed well in the last 2 quarters adding a needed 650 MW to the grid capacity in December 2014 and an expected second 650 MW in the following few weeks. The restructuring of the project to (i) use the project savings of (US180 million) to finance strengthening of the high voltage transmission networks, (interconnecting Helwan South new project and strengthening Sokhna connection) is underway, but with some delay due to the delay in Helwan south power plant . The project restructuring also extend the closing date of the project to June 30, 2017 has been completed. The Technical Assistance component aimed at improving sector financial sustainability with its different activities (energy pricing, commercial wind generation, energy efficiency, private sector re-engagement and ToU tariff implementation) has been strongly enhanced in July 2014 with a solid tariff reform by the energy sector as a whole for all energy products and more specifically for the electricity sector by an average increase of 30% for the year 2014-2015 and a defined tariff plan for the following 4 years to completely remove electricity subsidy. Further attention to Energy Efficiency is important in the short term to minimize the expected shortage in electricity supply. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  --  Substantial Macroeconomic  --  --  Moderate Sector Strategies and Policies  --  --  Moderate Technical Design of Project or Program  --  --  Low Institutional Capacity for Implementation and Sustainability  --  --  Moderate Fiduciary  --  --  Moderate Environment and Social  --  --  Moderate 12/15/2014 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) Stakeholders  --  --  Low Other  --  --  -- Overall  --  --  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 0.00 0.00 6000.00 Date 30-Jun-2008 22-May-2014 01-Dec-2014 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 22-May-2014 01-Dec-2014 30-Jun-2017 PHINDPDOTBL  Direct project beneficiaries (Number, Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7196267.00 Date 30-Jun-2008 22-May-2014 01-Dec-2014 30-Jun-2017 PHINDPDOTBL  Female beneficiaries (Percentage, Core Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 49.00 Date 30-Jun-2008 22-May-2014 01-Dec-2014 30-Jun-2017 12/15/2014 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) PHINDPDOTBL  Financial Sustainability: Electricity average tariff (Pt/kWh) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 18.00 23.20 29.00 31.30 Date 30-Jun-2008 20-Nov-2013 01-Dec-2014 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 0.00 0.00 80.00 Date 04-Nov-2013 20-Nov-2013 01-Dec-2014 30-Jun-2017 PHINDPDOTBL  In a Sustainable Manner: Minimum thermal energy conversion efficiency (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 40.00 Date 30-Jun-2008 20-Nov-2013 01-Dec-2014 30-Jun-2017 Overall Comments Intermediate Results Indicators 12/15/2014 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) PHINDIRITBL  Progress in construction of Ain Sokhna power plant (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0 97% 98% 100% Date 30-Jun-2008 22-May-2014 10-Dec-2014 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 0.00 650.00 1300.00 Date 30-Jun-2008 22-May-2014 13-Dec-2014 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 22-May-2014 13-Dec-2014 30-Jun-2017 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 20-Nov-2013 13-Dec-2014 30-Jun-2017 12/15/2014 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) 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 20-Nov-2013 10-Dec-2014 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 20-Nov-2013 20-Nov-2013 30-Jun-2017 PHINDIRITBL  EEHC Current Ratio (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.59 -- 0.4 1.0 or higher Date 30-Jun-2007 20-Nov-2013 20-May-2015 30-Jun-2017 PHINDIRITBL  EEHC Devt Service Coverage Ratio (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.52 -- 1.0 1.4 or higher Date 30-Jun-2007 20-Nov-2013 20-May-2014 30-Jun-2017 Overall Comments Data on Financial Performance 12/15/2014 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report EG-Ain Sokhna Power Project (P100047) Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P100047 IBRD-76330 Effective USD 600.00 600.00 0.00 363.18 236.82 61% 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 31-Dec-2015 Cumulative Disbursements Restructuring History Level 2 Approved on 04-Dec-2013 Related Project(s) There are no related projects. 12/15/2014 Page 7 of 7 Public Disclosure Copy