The project advances Cabo Verde’s goal of generating 50% of its electricity from renewables by 2030 as well as its Nationally Determined Contribution under the Paris Agreement
ABIDJAN, Ivory Coast, June 16, 2025/APO Group/ --
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a €19.6 million financing package to support the Cabeólica Phase II Expansion Project in Cabo Verde.
African Development Bank approves €19.6 million in financing to scale up Cabo Verde’s pioneer in wind and battery storage capacity
The project is the country’s first renewable energy initiative to integrate wind power generation and battery energy storage systems (BESS) at scale.
The financing includes a loan of approximately €12.6 million from the African Development Bank, and €7 million in concessional loan financing from the Bank Group-managed Sustainable Energy Fund for Africa (SEFA).
Building on the success of the original Cabeólica power project commissioned in 2012, Phase II will add 13.5 megawatts of wind generation capacity and 26 megawatt-hours of grid-connected battery energy storage. The expansion is expected to generate over 60 gigawatt-hours of clean energy annually, eliminating expensive thermal generation and reducing carbon dioxide emissions by an estimated 50,000 tonnes annually.
“This project is a testament to Cabo Verde’s long-term vision to decarbonize its power sector and enhance its resilience. It also demonstrates how private sector investment, facilitated by catalytic concessional financing, can deliver cost-effective, sustainable energy solutions for small island economies,” said Wale Shonibare, Director for Energy Financial Solutions, Policy and Regulations at the African Development Bank.
Daniel Schroth, the Bank Group’s director for Renewable Energy and Efficiency said: “SEFA’s support for the integration of battery storage into Cabo Verde’s power system enhances power security and grid reliability while reducing generation costs in Cabo Verde.” He noted that the project highlights the added value of the right mix of financing and technology to strengthen long-term power sector sustainability.
Ayotunde Anjorin, Chairman of Cabeólica and Senior Director and CFO at Africa Finance Corporation, said: “As the first renewable energy commercial scale PPP in sub-Saharan Africa, Cabeólica is again proud to lead this transformative expansion project comprising additional wind capacity and battery energy storage. This project underscores Cabeólica’s deep commitment to delivering reliable, clean energy infrastructure in line with national goals and priorities and continues to set a replicable model for the region.”
Cabeólica Phase II entails five installations across four islands: a wind expansion on Santiago and BESS deployments on Santiago, Sal, Boa Vista, and São Vicente. Battery storage will support ancillary grid services such as frequency response and voltage regulation, enabling more efficient use of intermittent wind power and reducing curtailment. With Cabo Verde’s electricity system still heavily reliant on imported fossil fuels, these upgrades are expected to reduce system costs and enhance energy security.
Owned by Africa Finance Corporation, A.P. Moller Capital, and Cabo Verdean public entities, Cabeólica S.A. is the country’s first independent power producer (IPP). Phase II of the project will be underpinned by a 20-year power purchase and storage services agreement with the national utility Electra S.A., at tariffs significantly lower than the national average generation cost.
The project advances Cabo Verde’s goal of generating 50% of its electricity from renewables by 2030 as well as its Nationally Determined Contribution under the Paris Agreement.
It aligns with the African Development Bank’s ‘Light Up and Power Africa’ High-5 priority, its Ten-Year Strategy, and SEFA’s Green Baseload pillar.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
….the article did not finish? Anyway I have hubnge amounts of respect for brother Gaboobe for setting hatuf and Somaliland times and running them at a loss fotr so long. However, he has ben, sadly I have to say, doing what the rest of the filth thatb calls themselves Somaliland media has ben doing: reporting libelous articles without following the most basic tenets of responsbile journalism like doubel sourcing, right to reply, corroboration, evidence-based investigative reporting. Why he did this to himself and his reputation is beyond me.
Lets see how he defends himself in court. Because evidence for his allegations will be sought and I believe he has none.
Thanks Kabocalaf for your houghtful comments. Gaboobe has been doing this for the last 20yrs and it is about time somebody took him to court. I congratulate those courageous public servants to take him to task. In his insane mind he has been lying for so long he is believing his own lies. He is defintely due foe weight loss, I hope they put him away and throw away the keys forever. This cancer has to be contained and recognize the real journalist who doesn’t belive in lies.
You die of envy kabo, you are troll.
I lost all respect for this gaboobe guy.
Haatuf and Yusuf Gabobe are the pillars of Somaliland’s media. This case is going to damage Somaliland’s reputation. Prominent international media orgs and others who are interested in Somaliland’s affairs have voiced their objection to the illegal closure of Haatuf and other media orgs.
All the Gov had to do was say dismiss the allegations from the newspapers and prove otherwise. Closure of media orgs and jailing journalists will damage Somaliland’s reputation and democracy aspirations.
Previous Gov have jailed Haatuf’s journalist Yusuf Gabobe and now this Gov. What does that say about Somaliland’s democracy and recognition. It is ironic that the Gov is entertaining delegates from Mogadisho while Somaliland’s Veteran journalists are in prison with terrorist criminals. This goes beyond common sense.
It shows the enemies and the rest of the observing world that Somaliland is run by weak trolls who can’t stand the test of the times. They are afraid of an unarmed man who is equipped with no more than a truthful pen, nothing more. If these people are non corruptible as one guy put it, then why not prove the truthful Mujahideen wrong by talking to the public to deny and come out clean of these accusations instead of hounding the people like gangsters, and trying to gag the mouths will not work and the real Somalilanders who fought and spilled blood for freedom and endured the hardships over a decades will not tolerate this dirty games by few cruel and corrupt politicians for long. To those who are lionizing and trying to defend these unpatriotic actions by the government, you are encouraging the corruption and disentgration of in your
Those who say they loss respect for the Great Mujahid Mr. Yusuf Gaboobe and those who hope that he fails in defending himself will soon be shamed because they chose to side with the corruption and nepotism. Guys you’re real shame on us and you’re totally out of the line. You defend your corruption and tribalism and feel threatened when a brave man like Gaboobe dares to love and fights for his beloved Somaliland and not for a few shillings. You have no history and he has a clean and brilliant one. He has fought for his country from day one, from the inception of the SNM todate and he’s not going to give up, neither will we, and if those cowards who fear the pen and do not want the truth to be told will go down soon Inshallah. Do you want him to keep his mouth shut like a coward when these cheap salesmen are selling our country? what was this energy minister doing lately? did he not admit to the theft of the funds meant for the recognize Somaliland campaign? Let them come clean on this first if they want to imprison and terrorize the real patriots, and rest assured we’re not going to abandon our hero, never.