Cabo Verde government creates renewable energy company

20 October 2015

The government of Cabo Verde (Cape Verde) before the end of the year plans to create Electra Renováveis, a company that will be responsible for developing the renewable energy sector in the country, announced the Prime Minister at the inauguration of the only power plant on the island of Santo Antão.

“We will set up Electra Renováveis to invest heavily in renewable energy, because only then can we make use of the sun and wind that we have in abundance in Cabo Verde, whilst reducing the cost of acquiring energy,” said José Maria Neves.

The prime minister also said that in recent years the government had spent 12 billion escudos on building energy infrastructure in Cabo Verde, including the only power plant on Santo Antão and the expansion, modernisation and increased production at the Lazaretto power plant (São Vicente) as well as the Santiago interconnection.

Neves, cited by Cape Verdean news agency Inforpress, recalled that in November the only power plants on the islands of São Nicolau and Fogo are also due to open.

The Santo Antão power plant has an installed capacity of 5,200 kilowatts, compared to current consumption of just 2,800 kilowatts.

The Netherlands paid about half the amount needed to build the power plant on Santo Antão, and the remaining half was obtained by the government of Cabo Verde through loans from the OPEC Fund for International Development (OFID) and the Bank for Investment and Development of ECOWAS. (macauhub/CV)