€19.6M Approved for Cabo Verde Wind Project

Key Figures & Findings: The African Development Bank (AfDB) has approved a €19.6 million financing package for the Cabeólica Phase II Expansion Project in Cabo Verde, aimed at scaling wind power and deploying the country’s first grid-connected battery energy storage systems (BESS). The funding includes a €12.6 million loan from AfDB and €7 million in concessional finance from the Sustainable Energy Fund for Africa (SEFA). The project is being implemented by Cabeólica S.A., Cabo Verde’s first independent power producer, jointly owned by Africa Finance Corporation, A.P. Moller Capital, and public stakeholders. The expansion builds on the original Cabeólica wind initiative commissioned in 2012, with the aim of integrating renewable generation and storage to cut diesel dependency and enhance grid reliability across four islands.

Statistics & Insights: Phase II will add 13.5 MW of wind capacity and 26 MWh of battery storage, delivering an estimated 60 GWh of clean power annually and cutting 50,000 tonnes of CO₂ emissions per year. Installations will be spread across Santiago, Sal, Boa Vista, and São Vicente, with services including frequency control and voltage regulation.

Future Implications: If completed by mid-2027, the project could move Cabo Verde significantly closer to its goal of sourcing 50% of electricity from renewables by 2030. Its success might also position Cabeólica’s public-private model as a replicable strategy for small island states pursuing clean energy transitions.

Source: AfDB press release