New wind turbines and a supporting battery system have been established in Cabo Verde, thanks to additional financing of more than 39 million euros from the European Investment Bank (EIB), through its development arm EIB Global, co-financed by the African Development Bank and backed by EU guarantees.
This new financing expands Cabeólica’s wind initiative, which was originally financed by the EIB in 2010 with a 28 million euro loan. Cabeólica is a public-private partnership supported by Team Europe, the Government of Cabo Verde, and the local private sector. The project marked a turning point in the country’s energy policy. Comprising four wind farms on different islands, the project currently generates approximately 20 percent of the country’s electricity. With the expansion, this share is expected to increase to 30 percent.
“The Cabeólica wind project has already been a game changer for Cabo Verde’s progress toward its renewable energy goals” said EIB Vice-President Ambroise Fayolle, who oversees the Bank’s operations in the country. “It is a model for small island states to harness wind power potential for clean energy production. Our financing demonstrates the EIB’s commitment to supporting sustainable energy solutions that drive climate action and economic resilience.”
Aligned with the EU’s Global Gateway initiative and the second phase of the EIB Climate Bank Roadmap, this investment will help Cabo Verde reduce its dependence on imported fossil fuels and strengthen energy security.
To date, the EU Global Gateway Initiative has mobilised investments of around 380 million euros in Cabo Verde. In the energy sector, these funds are helping to optimise management and expand the use of renewables, paving the way for a cleaner, smarter, and more secure energy system. They are also creating opportunities for greater private sector participation in an area that requires significant investment.
“The project adds 13.5 MW of new wind power on Santiago and 26 MWh of battery storage across four islands, making electricity more reliable for families, schools and small businesses” added Sylvie Millot, the EU Ambassador to Cabo Verde. “With Vestas’ turbines and WinPower’s experience in installing battery systems, it shows how European expertise is helping Cabo Verde secure cleaner, more affordable energy for everyone.”
For additional information:
European Investment Bank (EIB)
Nguồn: https://www.renewableenergymagazine.com/wind/eib-global-and-eu-under-the-global-20251201