Release date: 17 March 2010
Promoter – Financial Intermediary
Infraco Limited, Electra S.A., Government of Cape Verde
Location
Description
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.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 30 million.
Total cost (Approximate amount)
EUR 60 million.
Environmental aspects
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.
Procurement
The procurement procedures employed by the promoter have been reviewed by the Bank and were found to be acceptable.
Status
Signed - 14/12/2010
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).