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Detail of GEF Project #1532

GEF Project ID1532
Funding SourceGEF Trust Fund
Project NameElectric Cooperative System Loss Reduction Project
RegionAsia and the Pacific
Focal AreaClimate Change
Operational Program5
Pipeline Entry Date2002-02-04
PDF-B Approval Date2002-02-04
Approval Date2003-05-16
CEO Endorsement Date2004-04-12
GEF Agency Approval Date2004-04-29
Project Completion Date2011-12-31
Project StatusProject Completion
GEF AgencyWorld Bank
Executing AgencyNational Electrification Administration (NEA)
DescriptionThe main objective of the proposed GEF Philippines Electric Cooperative System Loss Reduction Project is to achieve significant and sustained energy efficiency improvements in rural ECs in order to provide current and prospective viable EC customers with reliable and least-cost power supply over the long term. In this regard, the project would (i) develop and test financial and contractual mechanisms to support private sector investment, management and operation, and risk sharing to support system loss reduction measures in selected ECs; and (ii) support commercial lending to other qualified ECs for efficiency improvements. For (i), the project would pilot the use of investment management contracts (IMCs) to attract private investors to manage and operate selected ECs under long-term, performance-based contracts, and to mobilize private finance without recourse to the government. For those ECs that are yet unable to attract private investors, access to affordable term loans would be facilitated under (ii). Eligible subprojects will be selected based on their ability to generate positive financial returns to the Ecs. GEF financial involvement would be $12m, mostly as credit risk guarantees.
Implementation StatusGEF Council approved this project in May 2003. Bank's Board approved the project in April 2004. GEF Grant agreements were signed on May 5, 2004. Implementation is currently underway. The progress has been satisfactory. Over the past year, progress has been made in regulatory and policy reform to further the objective of strengthening the ECs. In addition, due diligence work on three ECs as pilot IMC candidates has recently been completed by Castalia and one of these ECs, PELCO III, is in the process of prequalification of interested investors.
PDF B Amount
350,000 USD
GEF Project Grant
12,000,000 USD
GEF Grant
12,350,000 USD
Cofinancing Total
50,500,000 USD
Project Cost
62,850,000 USD
GEF Agency Fees
1,202,000 USD
GEF Project (CEO Endo.)
12,000,000 USD
Cofinancing Total (CEO Endo.)
50,300,000 USD
Project Cost (CEO Endo.)
62,650,000 USD
Project Documents

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