TAILIEUCHUNG - CLEAN TECHNOLOGY FUND INVESTMENT PLAN FOR MOROCCO

Sovereign Wealth Funds (SWFs) are investment funds owned and managed by national governments. Originally created in the 1950s by oil and resource-producing countries to help stabilize their economies against fluctuating commodity prices, and to provide a source of wealth for future generations, they have proliferated considerably in recent years. Although their lack of transparency makes estimating SWF investment levels difficult, it is estimated that they currently manage between $ and $ trillion. 1 Estimates of their growth over the next several years vary, with the consensus hovering around Morgan Stanley’s projection of $12 trillion by 2015. SWFs can be funded through a variety of means, including. | CLIMATE INVESTMENT FUNDS September 2011 CLEAN TECHNOLOGY FUND INVESTMENT PLAN FOR MOROCCO Update Note 1 Clean Technology Fund Investment Plan for Morocco Update Note Table of Contents Executive 1. Overview of previous approved IP and its progress to 2. Rationale for updating the morocco CTF 3. Description of the proposed changes Wind Energy 4. Impact of new IP on initial objectives and on low carbon . Potential for reducing greenhouse gas . Leveraging resources for renewable . Demonstration Potential at . Replication and scalability . . Development impact and . Implementation . Ensuring Stakeholder s engagement in dealing with renewable . Risk 5. Financing Plan Wind Energy 2 List of Abbreviations ADEREE Agence Nationale pour le Développement des Énergies Renouvelables et de l Efficacité Énergétique AfDB CCGT CDER COMAFTEP African Development Bank combined cycle gas turbine Centre de Développement des Énergies Renouvelables Comité Marocain pour le Financement des Technologies et Énergies Propres CO2 CTF FDE IBRD IFC IP MAD MASEN Morocco CTF IP ONE ONEP SIE STEP UA WEP WBG carbon dioxide Clean Technology Fund Fonds de Développement de l Énergie International Bank for Reconstruction and Development International Finance Corporation Investment Plan Moroccan dirham Moroccan Agency for Solar Energy Clean Technology Fund Investment Plan for Morocco Office National de l Électricité Office National de l Eau Potable Société d Investissement Énergétique Station de Turbinage et de Pompage Units of Account Wind Energy Program World Bank Group Units and Measurements GW gigawatt 1000 MW KV kilovolt 1000 volts KW kilowatt 1000 watts KWH kilowatt-hour 1000 watt-hours MW megawatt 1000 kW MWH megawatt-hour 1000 kWh Exchange Rates September 2011 UA 1 US UA 1 Euro UA 1 MAD

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