PROJECT PERFORMANCE AUDIT REPORT

ASIAN DEVELOPMENT BANK PPA: MLD 24009 PROJECT PERFORMANCE AUDIT REPORT ON THE SECOND POWER SYSTEM DEVELOPMENT PROJECT (Loan 1121-MLD[SF]) IN THE MALDIVES December 2000 CURRENCY EQUIVALENTS Currency Unit – Rufiyaa (Rf) At Appraisal At Project Completion At Operations Evalution (30 August 1991) (26 January 1998) (March 2000) Rf1.00 = $0.0952 $0.0846 $0.086 $1.00 Rf10.50 Rf11.82 Rf11.55 ABBREVIATIONS ADB − Asian Development Bank EA − executing agency EIRR − economic internal rate of return FI− financial internal rate of return NPH − new powerhouse OEM − Operations Evaluation Mission OPH − old powerPCR − project completion report PPAR − project performance audit report SDR − special drawing rights STELCO − State Electric Company TA − technical assistance TOR− terms of reference WEIGHTS AND MEASURES GW (gigawatt) − 1,000 megawatts GWh (gigawatt-hour) −megawatt-hours kV (kilovolt) − 1,000 volts kVA (kilovolt-ampere) −volt-amperes kVAR (kilovolt-ampere reactance) − 1,000 units of reactive power kW (kilowatt) − 1,000 watts kWh (kilowatt-hour) − unit of electrical energy MW (megawatt) − 1,000,000 watts MWh (megawatt-hour) −000 kilowatt-hours VA (volt-ampere) − unit of apparent power W (watt) − unit of active power NOTES iv (i) The fiscal year (FY) of the ...