Public Disclosure Authorized AFRICA Cabo Verde Energy & Extractives Global Practice IBRD/IDA Specific Investment Loan FY 2012 Seq No: 10 ARCHIVED on 23-Oct-2017 ISR29430 Implementing Agencies: Unidade de Gestao de Projectos Especiais, Ministry of Finance Public Disclosure Authorized Key Dates Key Project Dates Bank Approval Date:19-Jan-2012 Planned Mid Term Review Date:15-Sep-2015 Original Closing Date:30-Sep-2016 Project Development Objectives Effectiveness Date:23-May-2012 Actual Mid-Term Review Date:14-Sep-2015 Revised Closing Date:30-Mar-2018 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) The proposed main development objectives of the Recovery and Reform of the Electricity Sector Project (RRESP) are to increase electricity generation in the Islands of Sao Vicente and Santiago and to assist ELECTRA to reduce electricity losses in Santiago Island. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1. Priority Investments in Electricity and Water:(Cost $42.50 M) Public Disclosure Authorized Component 2. Support ELECTRA s Loss Reduction Plan:(Cost $6.00 M) Component 3. Support ELECTRA s Reform and Sector Governance:(Cost $1.50 M) Component 4. Project implementation, communication and monitoring and evaluation:(cost $3.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate 10/23/2017 Page 1 of 12
Implementation Status and Key Decisions Major construction works to expand generation capacity have been successfully completed. While the installation of meters is ongoing, activities under the Revenue Protection Program remain to be implemented within the newly extended Project timeframe (March 30, 2018). 10/23/2017 Page 2 of 12
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Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Low Low Macroeconomic -- Substantial Substantial Sector Strategies and Policies -- Moderate Substantial Technical Design of Project or Program -- Low Low Institutional Capacity for Implementation and Sustainability -- Moderate Moderate Fiduciary -- Low Low Environment and Social -- Low Low Stakeholders -- Moderate Moderate Other -- -- -- Overall -- Moderate Moderate Results Project Development Objective Indicators 10/23/2017 Page 6 of 12
PHINDPDOTBL Electricity generated, net in Sao Vicente island (Gigawatt-hour (GWh), Custom) Value 66.01 68.74 74.00 67.80 PHINDPDOTBL Electricity generated, net in Santiago island (Gigawatt-hour (GWh), Custom Breakdown) Value 198.52 211.65 224.99 202.50 PHINDPDOTBL Electricity system losses per year in Santiago Island, total (Percentage, Custom) Value 34.40 32.50 37.90 30.90 PHINDPDOTBL Direct project beneficiaries (Number, Custom) Value 327,056.00 341,188.00 341,188.00 362,502.00 Comments Team under discussion with ELECTRA to obtain updated number for year 2016. 10/23/2017 Page 7 of 12
PHINDIRITBL PHINDIRITBL PHINDPDOTBL Female beneficiaries (Percentage, Custom Supplement) Value 52.00 52.00 52.00 52.00 Overall Comments Intermediate Results Indicators Electricity Collection Rate in Santiago Island (Component 3) (Percentage, Custom) Value 78.30 79.20 87.70 79.70 Comments Data for FY2016 Average Interruption Duration (AID) in Praia (Component 3) (Hours, Custom) Value 69.67 36.85 22.54 36.00 Date 31-Dec-2011 24-Mar-2017 22-Aug-2017 30-Mar-2018 10/23/2017 Page 8 of 12
PHINDIRITBL PHINDIRITBL PHINDIRITBL Sector Financial and Performance Monitoring in Place (Yes/No, Custom) Value N Y Y Y Date 30-Nov-2011 23-Mar-2017 29-Sep-2017 30-Mar-2018 Comments While monitoring of financial and operational performance of ELECTRA is still in place through the Project, the performance contract between ELECTRA and the Government was terminated last year by the newly elected Government. Despite assurances by the Government that a performance contract with revised targets would be in place by the end of December 2016, there is no performance contract as of now. Increased generation capacity in the Island of Sao Vicente (Component 1) (Megawatt, Custom) Value 0.00 11.00 11.00 5.50 Date 30-Dec-2011 23-Mar-2017 29-Sep-2017 30-Mar-2018 Increased generation capacity in the Island of Santiago (Component 1) (Megawatt, Custom Breakdown) Value 0.00 22.30 22.30 20.00 Date 31-Dec-2011 23-Mar-2017 29-Sep-2017 30-Mar-2018 10/23/2017 Page 9 of 12
PHINDIRITBL PHINDIRITBL PHINDIRITBL PHINDIRITBL Reduction in the variable costs of electricity generated in Santiago island (Component 1) (Percentage, Custom) Value 0.00 33.90 33.90 17.00 Comments Data for 2016 not yet available. Percentage of network metered (at the feeder level) in order to implement the loss reduction plan (Component 2) (Percentage, Custom) Value 0.00 80.00 100.00 100.00 Date 30-Nov-2011 24-Mar-2017 29-Sep-2017 30-Mar-2018 Residential meters installed in Santiiago (of which prepaid) (Component 2) (Number, Custom) Value 0.00 1,933.00 6,353.00 16,000.00 Overall energy losses (ELECTRA wide) (Component 3) (Percentage, Custom) Value 27.10 24.90 27.30 24.20 Date 31-Dec-2011 24-Mar-2017 24-Mar-2017 30-Mar-2018 Comments Data for FY16 10/23/2017 Page 10 of 12
Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P115464 IBRD-81150 Effective USD 53.50 53.50 0.00 50.94 0.79 95% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P115464 IBRD-81150 Effective 19-Jan-2012 03-Feb-2012 23-May-2012 30-Sep-2016 30-Mar-2018 Cumulative Disbursements 10/23/2017 Page 11 of 12
Restructuring History Level 2 Approved on 20-May-2015,Level 2 Approved on 14-Sep-2016,Level 2 Approved on 29-Sep-2017 Related Project(s) There are no related projects. 10/23/2017 Page 12 of 12