Cape Verde: European Investment Bank “very interested” in renewable energy projects

18 May 2009

Praia, Cape Verde, 18 May – The European Investment Bank (EIB) is “very interested” in taking part in the renewable energies project Cape Verde is carrying out, the bank’s vice president, Plutharcos Sakellaris said Friday in Praia.

Sakellaris said that the project, which includes setting up four wind farms on the islands of Santiago, São Vicente, Sal and Boavista, was expected to cost 60 million euros and that his institution could provide a loan of 30 million.

Speaking to Portuguese news agency Lusa after a meeting with Cape Verde’s Finance Minister, Cristina Duarte, the vice president of the EIB said that the bank was also in an advanced stage of looking at two other projects involving significant sums and that these were “vital” to the development of the archipelago.

The funding will be for projects to expand and modernise the port of Palmeira (Sal island), which will total 47 million euros, and the second phase of expansion and modernisation of the Amílcar Cabral international airport (also on Sal), to the value of 20 million euros.

Sakellaris travelled to Cape Verde heading an EIB mission to visit some projects funded by the bank and discuss the project portfolio for the next few years. (macauhub)