China Renewable Energy and Battery Storage Promotion Project

Abstract*

The objective of the Renewable Energy and Battery Storage Promotion Project in China is to promote the integration and use of renewable energy through the deployment of battery storage systems and innovative applications of renewable energy. This project is comprised of an Investment component. The proposed project will principally support the installation of battery storage systems and innovative RE applications. The investments to be financed by... Show More

Development Objective

The project development objective is to promote the integration and use of renewable energy through the deployment of battery storage systems and innovative applications of renewable energy.

Key Details

Project Details

Project ID
P163679
Status
Active
Team Leader
Yuge Ma , Ximing Peng
Borrower 2
China

Country
China
Disclosure Date
March 1, 2019
Approval Date
(as of board presentation)
June 11, 2019
Effective Date
March 18, 2020

Total Project Cost 1
US$ 750.00 million
Implementing Agency
Huaxia Bank
Region
East Asia and Pacific
Fiscal Year 3
2019

Commitment Amount
US$ 300.00 million
Environmental Category
N/A
Last Update Date
December 20, 2023
Closing Date
June 30, 2025

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change100%
- FY17 - Mitigation100%
FY17 - Energy100%
- FY17 - Access to Energy100%
- FY17 - Energy Policies & Reform100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	300.00
Borrowing Country's Fin. Intermediary/ies	450.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	300.00
IDA Commitment	N/A
IBRD + IDA Commitment	300.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	750.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Mar 18, 2020	IBRD-89690	Fee Charges	735,075.00
Nov 12, 2020	IBRD-89690	Loan Disb	11,810,500.00
Jun 1, 2020	IBRD-89690	Int Charges	210,506.34
Jun 1, 2020	IBRD-89690	Int Charges	1,314.23
Jun 11, 2020	IBRD-89690	Loan Disb	11,373,000.00
Mar 18, 2020	IBRD-89690	Loan Disb	735,075.00
Jun 1, 2021	IBRD-89690	Int Charges	375,615.22
Jun 1, 2021	IBRD-89690	Int Charges	88,125.09
Jun 1, 2021	IBRD-89690	Int Charges	1,586.31
Jun 1, 2021	IBRD-89690	Int Charges	5,187.27
Dec 1, 2020	IBRD-89690	Int Charges	383,249.38
Dec 1, 2020	IBRD-89690	Int Charges	64,668.09
May 12, 2022	IBRD-89690	Loan Disb	20,874,000.00
Dec 1, 2021	IBRD-89690	Int Charges	121,644.77
Dec 1, 2021	IBRD-89690	Int Charges	337,656.84
Jun 25, 2021	IBRD-89690	Loan Disb	11,946,000.00
Jun 1, 2022	IBRD-89690	Int Charges	313,207.78
Jun 1, 2022	IBRD-89690	Int Charges	114,656.96
Dec 1, 2022	IBRD-89690	Int Charges	2,859.59
Dec 1, 2022	IBRD-89690	Int Charges	5,142.49
Dec 1, 2022	IBRD-89690	Int Charges	293,026.88
Dec 1, 2022	IBRD-89690	Int Charges	283,411.06
Jun 9, 2023	IBRD-89690	Loan Disb	10,761,500.00
Dec 1, 2023	IBRD-89690	Int Charges	282,826.47
Dec 1, 2023	IBRD-89690	Int Charges	1,638,165.50
Jun 1, 2023	IBRD-89690	Int Charges	289,194.20
Jun 1, 2023	IBRD-89690	Int Charges	993,029.75
Apr 4, 2024	IBRD-89690	Loan Disb	12,672,239.00
Jun 24, 2024	IBRD-89690	Loan Disb	17,722,434.00
Jun 1, 2024	IBRD-89690	Int Charges	275,358.56
Jun 1, 2024	IBRD-89690	Int Charges	1,733,283.20
Jun 11, 2019	IBRD-89690	Loan Commitment	300,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Moderately Satisfactory	2025-02-08
Financial Management	Satisfactory	2025-02-08
Monitoring and Evaluation	Satisfactory	2025-02-08
Procurement	Satisfactory	2025-02-08
Overall Implementation Progress (IP)	Moderately Satisfactory	2025-02-08
Progress towards achievement of PDO	Moderately Satisfactory	2025-02-08

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increase in RE absorption by the grids Value 0.00 9.37 300.00
Date July 1, 2019 December 20, 2023 June 30, 2025
Comment
Increase in RE use from innovative applications Value 0.00 174.40 1100.00
Date June 28, 2019 December 20, 2023 June 30, 2025
Comment
Reduction in GHG emissions Value 0.00 58382.00 800000.00
Date June 28, 2019 December 20, 2023 June 30, 2025
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Installed capacity of battery storage systems Value 0.00 70.30 700.00
Date March 18, 2019 December 20, 2023 June 30, 2025
Comment
Installed capacity of DRE Value 0.00 11.50 235.00
Date March 13, 2019 December 20, 2023 June 30, 2025
Comment
Co-financing leverage ratio Value 0.00 3.20 2.10
Date March 13, 2019 December 20, 2023 June 30, 2025
Comment
Beneficiary satisfaction Value 0.00 0.00 3.00
Date April 10, 2019 December 20, 2023 June 30, 2025
Comment
Quality of subloan portfolio to SMEs (non-performing loans level) Value 4.00 0.00 4.00
Date April 9, 2019 December 20, 2023 June 30, 2025
Comment

Increase in RE absorption by the grids	Value	0.00	9.37	300.00
	Date	July 1, 2019	December 20, 2023	June 30, 2025
	Comment

Reduction in GHG emissions	Value	0.00	58382.00	800000.00
	Date	June 28, 2019	December 20, 2023	June 30, 2025
	Comment

Installed capacity of DRE	Value	0.00	11.50	235.00
	Date	March 13, 2019	December 20, 2023	June 30, 2025
	Comment

Co-financing leverage ratio	Value	0.00	3.20	2.10
	Date	March 13, 2019	December 20, 2023	June 30, 2025
	Comment

Beneficiary satisfaction	Value	0.00	0.00	3.00
	Date	April 10, 2019	December 20, 2023	June 30, 2025
	Comment

Quality of subloan portfolio to SMEs (non-performing loans level)	Value	4.00	0.00	4.00
	Date	April 9, 2019	December 20, 2023	June 30, 2025
	Comment

China Renewable Energy and Battery Storage Promotion Project

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS