The African Development Bank (AfDB) has approved €19.6 million in financing to support Phase II of the Cabeolica expansion project in Cape Verde, the Bank announced on Monday.
Described as the country’s first renewable energy initiative to combine large-scale wind power with battery energy storage, the project aims to boost Cape Verde’s clean energy capacity.
The financing package includes a €12.6 million loan from the AfDB and €7 million in concessional funding from the Sustainable Energy Fund for Africa.
Building on the original Cabeolica project launched in 2012, Phase II will add 13.5 megawatts of wind generation and 26 megawatt-hours of grid-connected battery storage. It is expected to produce over 60 gigawatt-hours of clean energy annually, reduce reliance on costly thermal generation, and cut carbon emissions by approximately 50,000 tons per year.
The project supports Cape Verde’s national target of generating 50% of its electricity from renewable sources by 2030.