Ouarzazate I Concentrated Solar Power – Morocco
Ouarzazate I is a 160MW Concentrated Solar Power plant in Morocco, generously supported by a subsidy from the Government of Morocco and concessional capital from international development banks. Ouarzazate I only makes economic sense if it contributes to the development of a commercially-sustainable regional Concentrated Solar Power market. Projects like Ouarzazate I play a crucial bridging role but, in order to scale-up projects like these, costs need to fall and revenues need to grow. This will require careful design and considerable political support from national and international players. Early experience from Ouarzazate I, such as the public-private partnership model used to engage key players, can help inform future projects.
About the San Giorgio Group case studies
In October 2011, Climate Policy Initiative (CPI) and the World Bank Group, in collaboration with China Light & Power (CLP) and the Organization for Economic Cooperation and Development (OECD), hosted the inaugural meeting of the San Giorgio Group, a new working group of key financial intermediaries and institutions actively engaged in providing green, low-emissions finance.The mission of the San Giorgio Group is to provide valuable insights on how to scale up climate finance and spend available resources more wisely.
To this end, Climate Policy Initiative is examining a series of case studies to determine how the use of public money can catalyze and incentivize private investment in low carbon technologies, and to draw lessons for scaling up green finance.