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Signature(s)

Amount
€ 30,000,000
Countries
Sector(s)
Cape Verde : € 30,000,000
Energy : € 30,000,000
Signature date(s)
14/12/2010 : € 30,000,000
Link to source

Summary sheet

Release date
17 March 2010
Status
Reference
Signed | 14/12/2010
20080226
Project name
Promoter - financial intermediary
Cape Verde Wind Power PPP

Infraco Limited, Electra S.A., Government of Cape Verde

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 30 million.
EUR 60 million.
Location
Sector(s)
Description
Objectives

The project comprises the development, construction and operation of four onshore wind farms and all interconnections from the wind farms to the local 20 kV grid connection points and associated transmission infrastructure on the islands of Santiago (9.65 MW), Boa Vista (4.25 MW), Sal (7.65 MW) and Sao Vicente (5.95 MW) in Cape Verde. The wind farms will have a total installed capacity of 27.2 MW.

The project satisfies European Union and Bank policy objectives to encourage renewable energy generation and address the impacts on climate change resulting from the combustion of fossil fuels. It further falls under the scope of the environmental and economic development goals of the Cotonou Mandate. Indeed, by providing electricity from a renewable energy source at an affordable, economic cost, the project addresses two key objectives of the Bank's external lending mandate: environmental protection and improvement and security of energy supply. It furthermore supports private investments in a project of public interest.

Environmental aspects
Procurement

If located in the EU, the project would fall under the scope of Annex II of the EIA Directive 85/337/EEC, as amended, requiring the competent authority to determine whether the project shall be made subject to an environmental assessment. According to Cape Verde national legislation (Decreto - Lei no. 29/2006), wind farms are subject to a mandatory environmental impact assessment with publication and public consultation.

The procurement procedures employed by the promoter have been reviewed by the Bank and were found to be acceptable.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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