Published: October 11, 2010
EIB and AfDB join government in supporting renewable energy project.
Cape Verde is to expand its renewable capacity after it secured the backing of the European Investment Bank (EIB) and African Development Bank (AfDB) to develop a €65mn (US$90mn) wind farm project.
Onshore wind farms on four islands in the Cape Verde archipelago are to be designed, built and operated by infrastructure developer InfraCo in a partnership between the government and local power utility Electra.
EIB and AfDB have agreed to provide €30mn and €15mn respectively for the project that aims to produce some 30MW of electricity generating capacity.
Plutarchos Sakellaris, EIB’s vice president for Africa, says that the project establishes wind energy as an alternative to diesel and that enabling small island states to use such practices contributes to the global fight against climate change.
Wind energy was first introduced to Cape Verde 16 years ago but today only provides 2% of the country’s power needs. The project aims to help the island increase its renewable energy capacity to 25% of total usage by 2012 and to double that figure by 2050.