Cape Verdean company Cabeólica named as one of the best public-private partnerships in Africa

8 April 2013

Cape Verdean company Cabeólica is one of the best public-private partnerships (PPP) in Southern-Saharan Africa, according to the International Financial Corporation (IFC), of the World Bank group.

With estimated investment of 60 million euros, 45 million of which came from development banks and Danish group Vestas as the group’s strategic supplier and installer, Cabeólica has contributed to improving the environment in Cape Verde through production of renewable energy, the IFC said, cited by Portuguese news agency Lusa.

Cabeólica, a Cape Verdean renewable energy company, has built four wind farms in Cape Verde, which produced 61.6 million kilowatts of power in 2012, which an estimated saving on imports of 20 million litres of fueloil and diesel in 2012.

In 2011, Cabeólica also received an award for Best Renewable Energy Project in Africa, at the Africa Energy Awards.

Cabeólica, which was set up in 2009, has as its national partners the Cape Verdean government and water and electricity company Electra, and its international partners are InfraCo Limited, the Africa Finance Corporation and the Finnish Fund for Industrial Cooperation. (macauhub)