The World Bank Report No: ISR12727 Implementation Status & Results India POWER SYSTEM DEVELOPMENT PROJECT IV (P101653) Public Disclosure Copy Operation Name: POWER SYSTEM DEVELOPMENT PROJECT IV (P101653) Project Stage: Implementation Seq.No: 11 Status: ARCHIVED Archive Date: 28-Dec-2013 Country: India Approval FY: 2008 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key Dates Board Approval Date 18-Mar-2008 Original Closing Date 31-Jul-2013 Planned Mid Term Review Date 28-Feb-2010 Last Archived ISR Date 21-May-2013 Effectiveness Date 16-May-2008 Revised Closing Date 31-Jul-2014 Actual Mid Term Review Date 12-Apr-2010 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the project is to strengthen India's electricity transmission system in order to increase reliable power exchange between regions and states. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Transmission System Strengthening Schemes 1000.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Highly Satisfactory Highly Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Low Low Public Disclosure Copy Overall Risk Rating Implementation Status Overview The last implementation support mission for the project was carried out from September 16 - October 26, 2013. POWERGRID continues to demonstrate efficiency in project implementation and as of mid-November 2013, almost 95% of funds have been disbursed in PSDP IV whereas for additional financing almost 83% of funds have been disbursed, more than 7 months before project closing date. POWERGRID has recorded cost savings under the schemes approved at the appraisal stage. Powergrid and the team discussed and agreed upon a project restructuring scenario that would take advantage of the flexibility of the IBRD portfolio (with no change in PDO and monitoring framework) and allow maximizing disbursement under the various loans, including PSDP V. New restructuring scenarios are now being discussed, as DEA has still not provided its green light to the PCG option, key feature of the restructuring strategy of PSDP V. It is anticipated that project restructuring will be completed by January 2014. Page 1 of 5 The World Bank Report No: ISR12727 As of end September 2013, outcome indicator (inter-regional power exchange in a year) has already met 53% of the original targets (in PAD) and 45% of the revised targets (actual - 31 billion units (BU) against PAD target of 58 BU and revised target of 68 BU). This indicator had already outperformed its end project (FY2014) target (58 BU) in FY2012 itself. Further, POWERGRID has again outperformed the annual targets for the other two Key performance indicators (KPI) (result indicators). Overall, there are no significant shortcomings Public Disclosure Copy with respect to meeting the project development objectives. Locations Country First Administrative Division Location Planned Actual India Bengal State of West Bengal India State of Maharashtra Wardha India State of Madhya Pradesh Tala India Bengal Shiliguri India State of Madhya Pradesh Seoni India State of Orissa Raurkela India State of Jharkhand Ranchi India State of Chhattisgarh Raipur India State of Chhattisgarh Raigarh India State of Bihar Purnia India State of Maharashtra Parli Vaijnath India State of Orissa State of Orissa India State of Maharashtra State of Maharashtra India State of Maharashtra State of Maharashtra Public Disclosure Copy India State of Madhya Pradesh State of Madhya Pradesh India State of Chhattisgarh Korba India Rajasthan Kankroli India State of Jharkhand Jamshedpur India State of Madhya Pradesh Gwalior India Bengal Durgapur Page 2 of 5 The World Bank Report No: ISR12727 Country First Administrative Division Location Planned Actual India State of Madhya Pradesh Damoh Public Disclosure Copy India State of Madhya Pradesh Bhopal India State of Orissa Baripada India State of Maharashtra Aurangabad India State of Maharashtra Akola India Uttar Pradesh Agra India State of Chhattisgarh State of Chhattisgarh India State of Madhya Pradesh Bina India Uttar Pradesh Birsinghpur India Rajasthan Bhiwadi Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Growth in power exchange between the Text Value 37,750 GWh 31,004 GWh 58,000 GWh regions Date 30-Jun-2007 30-Sep-2013 31-Jul-2014 Comments Already met. End project target revised upwards to 68,000 GWh. Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Public Disclosure Copy Growth in transmission capacity - circuit kms Text Value 59,400 kms 102,035 ckm 95,000 kms Date 30-Jun-2007 30-Sep-2013 31-Jul-2014 Comments Already exceeded the end Already met. Target revised project target. upwards to 107,000 ckm. Growth in transformation capacity - MVA Text Value 59,400 MVA 169,563 MVA 92,000 MVA Date 30-Jun-2007 30-Sep-2013 31-Jul-2014 Comments Already exceeded end year Already met. Target revised target. upwards to 185,000 MVA. Page 3 of 5 The World Bank Report No: ISR12727 Transmission lines constructed or rehabilitated Kilometers Value 5279.00 5500.00 under the project Date 30-Jun-2007 31-Mar-2013 31-Jul-2014 Comments CSI Retrofit per SEGEN - Not included in the original Public Disclosure Copy Sept. 2013. project monitoring framework Transmission lines rehabilitated under the Kilometers Value 0.00 0.00 project Sub Type Date 30-Jun-2007 31-Jul-2014 Breakdown Comments CSI Retrofit per SEGEN - Sept. 2013. Transmission lines constructed under the Kilometers Value 5279.00 5500.00 project Sub Type Date 30-Jun-2007 31-Mar-2013 31-Jul-2014 Breakdown Comments CSI Retrofit per SEGEN - Sept. 2013. Data on Financial Performance (as of 13-Nov-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P101653 IBRD-48900 Effective 18-Mar-2008 28-Mar-2008 16-May-2008 31-Jul-2013 31-Jul-2014 P101653 IBRD-75930 Effective 21-Oct-2008 27-Jan-2009 30-Mar-2009 31-Jul-2014 31-Jul-2014 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P101653 IBRD-48900 Effective USD 600.00 600.00 0.00 570.30 29.70 95.00 P101653 IBRD-75930 Effective USD 400.00 400.00 0.00 331.03 68.97 83.00 Disbursement Graph Public Disclosure Copy Page 4 of 5 The World Bank Report No: ISR12727 Public Disclosure Copy Key Decisions Regarding Implementation POWERGRID has demonstrated efficiency in implementation and there are no significant shortcomings with respect to meeting the project development objectives. POWERGRID has recorded some cost savings and thus, proposed new schemes to utilize the available balance funds. These were approved by the Bank and are in advanced stages of procurement. Powergrid and the Bank are exploring other restructuring options to leverage the flexibility of the IBRD portfolio and fully utilize the surplus funds under PSDP IV and IV AF. These options will be finalized before end January 2014. Restructuring History There has been no restructuring to date. Related Projects P112798-Power System Development IV - Additional Financing Public Disclosure Copy Page 5 of 5