EC commits US$75.5 million to support renewables in Cape Verde

Facebook
Twitter
LinkedIn
Reddit
Email

The West African island nation of Cape Verde will receive €55 million (US$75.5 million) of financing between 2014 and 2020 from the European Commission, to assist the development of renewable energy.

EU development commissioner Andreas Piebalgs announced the funding on the occasion of his first ever visit to Cape Verde. The nation has set itself an ambitious target of meeting 50% of electricity through renewable energy sources by 2020.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

According to the European Commission, the funding will “focus specifically on the areas of the fight against poverty, sustainable and inclusive growth and good governance”. In addition to supporting Cape Verde in meeting its renewable energy goals, the EU will open the Technical Assistance Facility for Sustainable Energy for All in Cape Verde, a centre for energy co-operation for the continent of Africa.

Through the facility, the EU will share knowledge and expertise in the renewable energy sector and assist the Cape Verdean authorities in selecting appropriate project proposals.

During his visit, commissioner Piebalgs said that renewable energy could be the country’s pathway to growth and development.

“Electricity prices in Cape Verde are sky high and the country has no fossil fuel resources,” Piebalgs said. “That’s why our new Technical Facility is so important – by providing expertise and innovative solutions it will help to utilise abundant renewable resources such as wind and sun to give people on all of Cape Verde’s islands reliable and cost-effective access to electricity and modern energy services through renewable energy.”

According to the European Commission, the funding, which follows €51 million (US$70 million) given to Cape Verde for the period 2008 to 2013 through the European Development Fund, “shows the importance that the EU attaches to its relations with Cape Verde”. The European Commission expects to announce further support to the EU-Cape Verde Special Partnership, which focuses on areas of shared strategic interest such as security and stability as well as harmonising technologies and standards to bring them in line with the EU. The EU is currently Cape Verde’s biggest trading partner.

Read Next

September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.
September 11, 2025
Madison Energy Infrastructure has raised US$800 million to accelerate the deployment of clean energy assets across the US. 
September 11, 2025
The PEARL Consortium has developed perovskite solar cells with carbon electrodes with a conversion efficiency of 21.6%.
September 11, 2025
The EBRD has launched a new programme to improve access to green financing and support energy investments such as renewable power projects.
September 11, 2025
Constant Energy has secured THB300 million (US$9.4 million) in green financing from HSBC to expand large-scale solar and battery storage projects in Thailand. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines