Privatisation of Cabo Verde power company already has interested parties

17 January 2014

The Prime Minister of Cabo Verde (Cape Verde), José Maria Neves, said Wednesday in Praia that there were several parties interested in the privatisation of the country’s power production and distribution company Electra and added that the process would be concluded this year.

According to the Cabo Verde press, the Prime Minister added that the company would undergo restructuring in order to make it more attractive to potential private investors.

“With the investments we are going to make in renewable energy, we want to set up a renewables Electra to invest in wind and solar power,” said Neves adding that the fact that there are several interested investors proves that Electra is a company with great growth and development prospects.

“The company has made leaps forward over the last few years and we hope we can privatise Electra in the best conditions within our strategy of improving Cape Verdean competition,” the Prime Minister said.

Electra, whose main offices are located in Mindelo on the island of Sao Vicente, has nine production and distribution units: Two on the island of Santiago and one on each of the archipelago’s remaining islands. (macauhub)