Public Disclosure Copy The World Bank Implementation Status & Results Report Turkey Geothermal Development Project (P151739) Turkey Geothermal Development Project (P151739) EUROPE AND CENTRAL ASIA | Turkey | Energy & Extractives Global Practice | IBRD/IDA | Investment Project Financing | FY 2017 | Seq No: 1 | ARCHIVED on 17-Mar-2017 | ISR27105 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:01-Nov-2016 Effectiveness Date:16-Feb-2017 Planned Mid Term Review Date:22-Oct-2018 Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2022 Revised Closing Date:31-Dec-2022 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to scale up private sector investment in geothermal energy development in Turkey. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Risk Sharing Mechanism for Resource Validation:(Cost $39.80 M) Loan Facility for Resource Development:(Cost $312.50 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  --  Satisfactory Overall Implementation Progress (IP)  --  Moderately Satisfactory Overall Risk Rating  --  Substantial Implementation Status and Key Decisions The project became effective in the latter part of the reporting period and is still in too early a stage to report on progress. 3/17/2017 Page 1 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Turkey Geothermal Development Project (P151739) 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  Low  --  Low Technical Design of Project or Program  Substantial  --  Moderate Institutional Capacity for Implementation and Sustainability  High  --  High Fiduciary  Substantial  --  Substantial Environment and Social  Moderate  --  Substantial Stakeholders  Moderate  --  Moderate Other  --  --  -- Overall  Substantial  --  Substantial Results Project Development Objective Indicators PHINDPDOTBL  Private Capital Mobilized (Amount(USD), Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 619.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 PHINDPDOTBL  Generation Capacity of Renewable Energy (other than hydropower) constructed (Megawatt, Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 110.00 Date 30-Jan-2015 -- 15-Feb-2017 31-Dec-2021 3/17/2017 Page 2 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Turkey Geothermal Development Project (P151739) PHINDPDOTBL  Generation Capacity of Renewable Energy constructed-Geo-thermal (Megawatt, Core Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 110.00 Date 31-Dec-2014 -- 15-Feb-2017 31-Dec-2021 PHINDPDOTBL  Potential CO2 emissions reductions (Metric tons/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 650,927.00 Date 15-Feb-2017 -- 15-Feb-2017 31-Dec-2021 Overall Comments Intermediate Results Indicators PHINDIRITBL  Volume of indirect financing catalyzed by CTF financing (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 117.00 Date 15-Feb-2017 -- 15-Feb-2017 31-Dec-2021 3/17/2017 Page 3 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Turkey Geothermal Development Project (P151739) PHINDIRITBL  Grievance registered related to delivery of project benefits addressed within stipulated service standards for response times (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 100.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 PHINDIRITBL  Exploration drilling projects supported under the Risk Sharing Mechanism (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 20.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 PHINDIRITBL  Volume of direct financing catalyzed by CTF financing – (Core) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 202.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 PHINDIRITBL  Geothermal resources (for electricity and heat) confirmed through exploration drilling (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 192.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 3/17/2017 Page 4 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Turkey Geothermal Development Project (P151739) PHINDIRITBL  Geothermal resources developed through capacity drilling (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 120.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 PHINDIRITBL  Capacity drilling projects supported by the Loan Facility (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 5.00 Date 30-Jun-2015 -- 15-Feb-2017 31-Dec-2021 Overall Comments The Projects Loan Agreement has just become effective and CTF GA has not been effective yet, thus too early to report progress on indicators. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P151739 IBRD-86520 Effective USD 100.00 100.00 0.00 0.25 99.75 0% P151739 IBRD-86530 Effective USD 150.00 150.00 0.00 0.38 149.63 0% Not P151739 TF-A1532 USD 39.80 39.80 0.00 0.00 39.80 0% Effective Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P151739 IBRD-86520 Effective 01-Nov-2016 30-Nov-2016 16-Feb-2017 31-Dec-2022 31-Dec-2022 P151739 IBRD-86530 Effective 01-Nov-2016 30-Nov-2016 16-Feb-2017 31-Dec-2022 31-Dec-2022 Not P151739 TF-A1532 30-Nov-2016 -- -- 31-Dec-2022 31-Dec-2022 Effective 3/17/2017 Page 5 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Turkey Geothermal Development Project (P151739) Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 3/17/2017 Page 6 of 6 Public Disclosure Copy