The European Investment Bank (EIB) will provide €30 million to design, build, and operate onshore wind farms on four islands in Cape Verde.
It was previously announced that the African Development Bank (AfDB) would also contribute €15 million to Cape Verde’s wind sector, which would be a total investment of €45 million in order to propel Cape Verde’s renewable energy sector.
The project will help the archipelago’s target of meeting local power demands by renewable energy totaling 25% of its generating capacity by 2012. Cape Verde hopes to extend this target to 50% by 2020.
The wind farms will be the first renewable energy public-private partnership (PPP) in sub-Saharan Africa to be developed by InfraCo.
The wind technology used will come from Vestas and will provide over 28 MW of electricity generating capacity.
In July, it was announced that the Economic Community of the West African States (Ecowas) opened a new regional center for the development of renewable energy opened in Cape Verde, supported by the governments of Cape Verde, Austria, and Spain in addition to UNIDO.