EU funding for renewables in Cape Verde

Renewable energy sources are important for every country. Cape Verde has plenty of sun, wind and waves so it is well suited to getting its power from clean energy. It is hoped that Cape Verde renewables will provide 50% of its power requirements by 2030. Therefore, the possibility of €140m funding from the European Union will help Cape Verde achieve this goal. This money is specifically for investing in renewables and improving the port infrastructure.

Carla Grijó, the European Union’s Ambassador to Cape Verde, announced this at a conference on the island of Boa Vista. The EU grant will be between €40m and €45m. The balance will be from the European Investment Bank in the form of a loan on favourable rates. Whilst these figures have been mentioned, the final decisions have still to be confirmed. The EU is already supporting Cape Verde with a €36m support to the country’s economy.

[10 May 2023]