The European Investment Bank (EIB) and the African Development Bank (AfDB) closed the €45 million financing agreement to design, construct, and operate onshore wind farms in Cape Verde. This project will mark sub-Saharan Africa’s first public-private partnership (PPP) which will be developed by InfraCo with Vestas supplying the wind turbines.
The project will generate 28 MW of electricity, helping the archipelago’s dream of meeting 25% of its local power needs from renewable energy by 2012 and 50% by 2020. Currently, Cape Verde meets 2% of its power needs via wind energy. However, the new wind farms will catapult this number and are expected to be operational by Q4 2011.
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