Cabo Verde Secures $13 Million for Renewable Energy and Wind Farm Expansion
Cabo Verde is advancing its green energy initiatives with over $13 million in financing from the World Bank for its Renewable Energy and Improved Utility Performance Project. The project includes the expansion of the Cabeólica wind farm, adding 13.5 MW of capacity, and the installation of battery storage systems across four islands. The country aims for 100% renewable energy by 2040, increasing its renewable electricity share from 20% to 30% with significant international support.
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Cabo Verde is enhancing its renewable energy capacity with over $13 million in concessional financing from the World Bank for its Renewable Energy and Improved Utility Performance Project. This includes the expansion of the Cabeólica wind farm, which will add 13.5 MW of capacity on Santiago Island, and the deployment of battery storage systems across Santiago, Sal, Boa Vista, and São Vicente to stabilize the grid.
The country's renewable electricity share has increased from 20% to 30%, with a goal of achieving 100% renewable energy by 2040. The project also aims to modernize the energy sector, attract over $100 million in private investment, and provide electricity access to nearly 2,000 additional households, with a focus on job creation and promoting women's participation in the energy sector.
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