| Financier | Commitments |
|---|---|
| Clean Technology Fund | 30.00 |
| Asian Infrastructure Investment Bank | 20.00 |
| IDA Grant | 12.40 |
Accelerating Renewable Energy Integration and Sustainable Energy
Abstract*
The Project would contribute to mobilizing private sector investment in solar photovoltaic (PV) generation capacity; support battery energy storage system (BESS) deployment and grid modernization to enable variable renewable energy (VRE) integration; and provide technical assistance (TA) for institutional capacity building, pipeline development, and support for early stage feasibility work associated with the development of other sustainable energy... Show More
Development Objective
The development objective is to increase renewable energy generation capacity and enhance the financial and environmental sustainability of the power sector in the Maldives.
Key Details
Project Details
P172788
Active
Amit Jain
Republic of Maldives
December 4, 2019
(as of board presentation)
December 11, 2020
March 30, 2021
US$ 107.40 million
Ministry of Climate Change, Environment and Energy
2021
US$ 62.40 million
N/A
Moderate
January 31, 2026
Yes
BANK APPROVED
March 26, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 12.40 |
| IBRD + IDA Commitment | 12.40 |
| Lending Instrument | |
|---|---|
| Grant Amount | 50.00 |
| Total Project Cost** | 107.40 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Dec 11, 2020 | IDA-D7440 | Loan Commitment | 12,400,000.00 |
| May 8, 2024 | IDA-D7440 | Loan Disb | 888,000.00 |
| Dec 11, 2020 | TF-B4303 | Loan Commitment | 23,000,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Financial Management | Satisfactory | 2024-10-15 |
| Monitoring and Evaluation | Satisfactory | 2024-10-15 |
| Project Management | Satisfactory | 2024-10-15 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-10-15 |
| Procurement | Satisfactory | 2024-10-15 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2024-10-15 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Generation capacity of energy constructed or rehabilitated Value 0.00 0.00 36.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Cost of renewable energy per unit of electricity (kilowatt-hour) achieved through competitive bidding Value 0.00 0.00 0.09 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Renewable energy generation capacity (other than hydropower) constructed under the project Value 0.00 0.00 36.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Avoided annual diesel consumption by power generation from renewable energy Value 0.00 0.00 15.60 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Net annual greenhouse gas (GHG) emissions reduced Value 0.00 0.00 33500.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Private capital mobilized Value 0.00 0.00 45000000.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Number of new renewable energy jobs created Value 0.00 0.00 18.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Installed capacity of BESS Value 0.00 0.00 50.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Electrical transmission and distribution lines (medium and low voltage) constructed and/or rehabilitated Value 0.00 0.00 140.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Number of new renewable energy jobs created (female) Value 0.00 0.00 12.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Number of individuals entering Project-funded RE job training Value 0.00 8.00 44.00 Date October 30, 2020 March 6, 2023 January 31, 2026 Comment Number of individuals entering Project-funded RE job training (female) Value 0.00 0.00 22.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment Percentage of received grievance that are resolved Value 0.00 0.00 90.00 Date October 30, 2020 May 17, 2021 January 31, 2026 Comment